- CEO Matt Murphy said that Marvell’s fiscal 2027 data center revenue is expected to grow by 40% and fiscal 2028 to grow close to 50%.
- The Delaware-based company reported a fourth-quarter (Q4) net revenue of $2.22 billion, a 22% year-on-year growth, and higher than analysts’ estimates of $2.21 billion.
- On the call, Murphy highlighted the company’s AI data center performance, stating revenues were over $6 billion in the segment, clocking a growth of 46% year-over-year.
Shares of Marvell Technology, Inc. rallied more than 13% in Thursday's post-market hours, after the company announced first-quarter (Q1) 2027 guidance ahead of Street consensus.
For Q1, the company projected net revenue of $2.4 billion, with a margin of 5% on either side. This was above consensus estimates of $2.28 billion. In a call with investors, Chairman and CEO Matt Murphy also said that overall revenue for the company in fiscal 2027 is expected to grow more than 30% year-over-year, approaching $11 billion.
“We expect year-over-year revenue growth to accelerate each quarter in fiscal 2027, driven by continued strength in our data center business, with bookings continuing to grow at a record pace. In addition to our strong results and outlook, our design wins in fiscal 2026 hit an all-time record, which we expect will continue to fuel our future growth,” said Murphy.
The CEO also said that Marvell’s fiscal 2027 data center revenue is expected to grow by 40% and fiscal 2028 to grow close to 50%.
Q4 Snapshot
The Delaware-based company reported a fourth-quarter (Q4) net revenue of $2.22 billion, a 22% year-on-year growth, and higher than analysts’ estimates of $2.21 billion, as per data from Fiscal.ai.
On the call, Murphy highlighted the company’s AI data center performance, stating revenues were over $6 billion in the segment, clocking a growth of 46% year-over-year.
Marvell also posted a diluted earnings per share of $0.80, marginally higher than projections of $0.79.
“This performance was driven by robust demand for our interconnect switching and storage products, along with the strong ramp in our custom business, which doubled in fiscal 2026. As we begin fiscal 2027, we are seeing very strong demand across our entire data center portfolio with bookings accelerating at a record pace,” Murphy said.
Marvell also announced its plans to increase capital expenditure spends, which is ultimately expected to contribute to revenue growth.
Acquisitions Update
Murphy provided updates on the company’s latest acquisitions, Celestial AI and XConn Technologies. The CEO said that both acquisitions are expected to contribute about $250 million in aggregate revenue in fiscal 2028.
Retail Reactions
On Stocktwits, retail sentiment around MRVL shares jumped from ‘bullish’ to ‘extremely bullish’ in the past 24 hours. Meanwhile, message volumes increased from ‘normal’ to ‘extremely high’ levels.
One bullish user said Marvell was one of the most undervalued chip stocks in the market.
Shares of MRVL have declined more than 16% in the past year.
For updates and corrections, email newsroom[at]stocktwits[dot]com.