DafinchiWe are engaged in multiple deep discussions with Tier 1 customers across our scale-up switch portfolio, with each engagement representing a multibillion-dollar lifetime revenue opportunity given the expected size of the scale-up TAM.
MRVL2027 Q2Technology
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Marvell Technology, Inc. 2027 Q2: Financial Performance summary
Financial Performance Summary
- Communications and other end markets revenue was $568M, down 3% sequentially and up 10% year-over-year, with management flagging expected quarterly lumpiness.
- Data Center was the largest end market at 79% of total revenue, growing 46% year-over-year (Q2 Data Center revenue: $2.17B).
- GAAP gross margin was 53.1% and non-GAAP gross margin was 58.9% (slightly above the midpoint of guidance).
- GAAP operating margin was 16.8% versus non-GAAP operating margin of 36.6%, with non-GAAP operating margin expanding 180 bps year-over-year and 160 bps sequentially.
- Marvell delivered record fiscal 2027 Q2 revenue of $2.739B, up 13% sequentially and 37% year-over-year.
- Non-GAAP earnings per share were $0.94 in Q2, exceeding the midpoint of guidance by a penny and up 40% year-over-year.