Revenue jumps 37% to $2.74 billion as Marvell raises its fiscal 2027 and 2028 outlook on robust AI infrastructure demand
Marvell Technology (MRVL) reported record fiscal second-quarter 2027 results, fueled by accelerating demand for its data center semiconductor products and continued strength in artificial intelligence infrastructure spending.
The company generated $2.739 billion in quarterly revenue, representing a 37% increase from the prior-year period and coming in $39 million above the midpoint of Marvell’s previous guidance.
Data Center remained a major growth engine, with revenue increasing 46% year over year as demand strengthened across Marvell’s connectivity and custom silicon businesses.
Profitability also remained strong. Marvell reported a GAAP gross margin of 53.1% and a non-GAAP gross margin of 58.9%. GAAP net income reached $308 million, or $0.33 per diluted share, while adjusted net income totaled $865.9 million, equivalent to $0.94 per share. Cash flow from operations came in at $605.5 million.
CEO Matt Murphy said AI-related bookings remain “exceptionally robust,” with the company expecting revenue growth to accelerate further during the remainder of fiscal 2027.
Marvell is particularly optimistic about its Custom business, which management expects to experience significant acceleration beginning in the second half of the fiscal year. Strong connectivity demand is also contributing to the company’s growing exposure to the expansion of AI data centers.
Reflecting that momentum, Marvell once again raised its revenue outlook for both fiscal 2027 and fiscal 2028.
For the fiscal third quarter, the semiconductor company expects revenue of approximately $3.15 billion, plus or minus 5%, which would represent another sequential increase. Marvell forecasts non-GAAP gross margins between 57.5% and 58.5%.
Adjusted earnings are projected at $1.10 per diluted share, plus or minus $0.05, while GAAP earnings are expected to reach $0.53 per share, plus or minus $0.05.
With AI infrastructure investment continuing to expand, Marvell’s record quarter and upgraded outlook reinforce the company’s position as a key semiconductor supplier benefiting from the ongoing data center buildout.
