More from MRVL Q2 2027

Marvell Technology, Inc.

MRVL2027 Q2Technology

AI-driven Data Center connectivity ramp across scale-out, scale-across, and scale-up

Data Center Q2 revenue was $2.17B, up 18% sequentially and 46% year-over-year, with acceleration from Q1.
For fiscal Q3, management forecast data center revenue to grow more than 20% sequentially and roughly 75% year-over-year.
Management linked connectivity demand to AI performance, emphasizing robust interconnect and switching demand for scale-out applications.
CEO described a shift toward hyperscalers building larger AI clusters spanning multiple data centers, increasing aggregate bandwidth needs for scale across networks.
Management discussed projection that aggregate bandwidth requirements for scale across networks are more than 10x current front-end DCI networks.

Marvell Technology, Inc.

MRVL2027 Q2Technology

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.

Marvell Technology, Inc.

MRVL2027 Q2Technology

We 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.

Matt Murphy

Context

CEO Matt Murphy discussed scale-up switching momentum and customer engagements during the Data Center segment section. Matt Murphy described scale-up networking momentum as AI architectures require increased performance across scale-out, scale-across, and scale-up domains. He stated that Marvell is positioned to support all three purpose-built scale-up protocols via UAL/ESUN switches and NVLink Fusion. He then highlighted that conversations with Tier 1 customers across the scale-up switch portfolio are tied to multibillion-dollar lifetime revenue opportunities given the expected size of the scale-up TAM.

More from MRVL Q2 2027

Marvell Technology, Inc.

MRVL2027 Q2Technology

AI-driven Data Center connectivity ramp across scale-out, scale-across, and scale-up

Data Center Q2 revenue was $2.17B, up 18% sequentially and 46% year-over-year, with acceleration from Q1.
For fiscal Q3, management forecast data center revenue to grow more than 20% sequentially and roughly 75% year-over-year.
Management linked connectivity demand to AI performance, emphasizing robust interconnect and switching demand for scale-out applications.
CEO described a shift toward hyperscalers building larger AI clusters spanning multiple data centers, increasing aggregate bandwidth needs for scale across networks.
Management discussed projection that aggregate bandwidth requirements for scale across networks are more than 10x current front-end DCI networks.

Marvell Technology, Inc.

MRVL2027 Q2Technology

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.

Marvell Technology, Inc.

MRVL2027 Q2Technology

Matt Murphy

Context

Marvell Technology, Inc.: Non-GAAP EPS exceeded the midpoint of guidance by a penny while growing 40% YoY

More from MRVL Q2 2027

Marvell Technology, Inc. 2027 Q2: AI-driven Data Center connectivity ramp across scale-out, scale-across, and scale-up

Marvell Technology, Inc. 2027 Q2: Financial Performance summary

More from MRVL Q2 2027

More from MRVL Q2 2027

Marvell Technology, Inc. 2027 Q2: AI-driven Data Center connectivity ramp across scale-out, scale-across, and scale-up

Marvell Technology, Inc. 2027 Q2: Financial Performance summary