Screenshot: Marvell
Marvell Technology reported record first-quarter fiscal 2027 revenue of $2.42 billion on Wednesday, up 28% from a year earlier, and raised its full-year outlook on strong demand for AI data center products.
GAAP net income fell sharply year over year to $34.5 million, or $0.04 per diluted share, from $177.9 million, or $0.20 per diluted share, a decline the company attributed in part to acquisition-related costs. On a non-GAAP basis, the company earned $0.80 per diluted share, the company said.
Marvell's data center segment generated $1.83 billion in revenue, up 27% year over year, and accounted for 76% of total revenue. The communications and other segment contributed $585.1 million, up 29% from the prior year period.
Looking ahead to the second quarter of fiscal 2027, the company set a revenue target of $2.70 billion, plus or minus 5%, along with non-GAAP diluted earnings per share of $0.93, plus or minus $0.05 — both figures coming in above the consensus forecasts of $2.60 billion and $0.90, respectively, according to Yahoo Finance.
