Marvell Technology posted $2.42 billion in Q1 2027 revenue, exceeding forecasts, and lifted its full-year guidance on strong AI data center demand.
Marvell Technology reported Q1 fiscal 2027 revenue of $2.42 billion, a 28% year-over-year increase, driven by surging demand for AI data center products. The company raised its full-year revenue outlook, citing robust bookings across high-speed optics and custom XPU solutions.
GAAP net income fell to $34.5 million, or $0.04 per share, from $177.9 million, or $0.20 per share, a year earlier, due in part to acquisition-related costs. Non-GAAP earnings reached $0.80 per share. The data center segment generated $1.83 billion, up 27% year over year, while communications revenue rose 29% to $585.1 million.
Marvell projected Q2 2027 revenue of $2.70 billion, above consensus estimates of $2.60 billion, and non-GAAP earnings of $0.93 per share, topping the $0.90 forecast. The company also raised its fiscal 2027 and 2028 revenue guidance, reflecting continued AI-driven growth.