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Marvell Technology, Inc. Reports Second-Quarter Revenue Beat and Raises Fiscal 2028 Outlook

Marvell Technology, Inc. reported second-quarter fiscal 2027 revenue of $2.739 billion, a 37% year-over-year increase that exceeded analyst expectations. Matt Murphy, the Chairman and CEO of Marvell Technology, Inc., attributed the growth to robust demand across the company's data center portfolio, where revenue accelerated by 46% year-over-year. The company also raised its fiscal 2028 revenue guidance to approximately $18 billion, up from a previous forecast of $16.5 billion. Despite the positive results, the stock fell 6% in after-hours trading as investors reacted to the high expectations surrounding the company's AI infrastructure growth. Goldman Sachs analyst James Schneider maintained a neutral rating, noting that the stock's recent rally may have already priced in much of the good news. While the company's new partnership with Google provides long-term upside, analysts are looking for more specific details on the custom compute business and the Microsoft partnership. The company plans to host an investor day on October 6, 2026, to showcase its long-term strategy for AI infrastructure.

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