Quarterly ResultMay 27, 2026, 04:12 PM
Marvell Q1 Revenue $2.418B, up 28%; Q2 Outlook $2.7B
AI Summary
Marvell Technology, Inc. reported record first-quarter fiscal year 2027 net revenue of $2.418 billion, a 28% increase year-over-year, surpassing the company's guidance. Non-GAAP diluted income per share was $0.80, and cash flow from operations hit a record $638.8 million. The company provided a strong outlook for the second quarter of fiscal year 2027, projecting net revenue of $2.700 billion, indicating 35% year-over-year growth, driven by accelerating AI-related bookings and strength in its data center business. These results include contributions from the recently completed acquisitions of Celestial AI and XConn Technologies.
Key Highlights
- Marvell reported record Q1 FY27 net revenue of $2.418 billion, up 28% year-over-year.
- Q1 FY27 non-GAAP diluted income per share was $0.80.
- Cash flow from operations for Q1 FY27 reached a record high of $638.8 million.
- Data Center revenue for Q1 FY27 was $1.832.7 billion, increasing 27% year-over-year.
- For Q2 FY27, net revenue is expected to be $2.700 billion (+/- 5%), representing 35% year-over-year growth.
- Q2 FY27 non-GAAP diluted net income per share is projected to be $0.93 (+/- $0.05).
- The company completed acquisitions of Celestial AI and XConn Technologies in February 2026.
- Marvell significantly raised its revenue outlook for both fiscal years 2027 and 2028.
Price Impact
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