Marvell Technology released results for the second quarter of fiscal 2027 after the U.S. stock market close, posting record revenue of $2.73 billion. The figure came in above the market expectation of $2.71 billion. Adjusted earnings per share reached $0.94, topping the consensus estimate of $0.93, while gross margin was 58.9%, also slightly above the expected 58.8%.
On the earnings call, Chairman and Chief Executive Officer Matt Murphy said revenue growth is expected to accelerate in the second half of the year. Marvell projected midpoint revenue for the third fiscal quarter at about $3.15 billion, which would represent 15% sequential growth and more than 50% year-over-year growth.
The company also raised its broader outlook. Marvell said it expects full-year revenue for fiscal 2027 to grow about 45% year over year to roughly $12 billion. For fiscal 2028, the company expects revenue to increase by about another 50%, above its previous forecast of 45%.
Marvell Technology (MRVL) reported its results for the second quarter of fiscal 2027 after the U.S. stock market close.
The company posted record Q2 revenue of $2.73 billion, above the market expectation of $2.71 billion. Adjusted earnings per share came in at $0.94, ahead of the expected $0.93. Gross margin was 58.9%, also above the 58.8% forecast.
Management points to faster growth in the second half
On the earnings call, Chairman and Chief Executive Officer Matt Murphy said revenue growth will accelerate in the second half of the year. Marvell expects midpoint revenue for the third fiscal quarter to be about $3.15 billion, up 15% from the prior quarter and more than 50% from a year earlier.
Fiscal 2027 and 2028 outlook
Murphy also said Marvell expects full-year fiscal 2027 revenue to rise about 45% year over year to roughly $12 billion. For fiscal 2028, the company expects revenue to grow by about another 50%, above its previous forecast of 45%.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
