Odaily Planet Daily report: This morning after hours, Marvell (MRVL) released its financial results for the second quarter of fiscal year 2027. The report showed that Marvell's Q2 revenue reached a record $2.73 billion, exceeding the market expectation of $2.71 billion; adjusted earnings per share came in at $0.94, surpassing the expected $0.93; and the gross margin was 58.9%, higher than the anticipated 58.8%.
Marvell’s Chairman and CEO, Matt Murphy, stated on the earnings call that revenue growth will accelerate further in the second half of the year, with an estimated midpoint of third-quarter revenue at approximately $3.15 billion, representing a 15% sequential increase and over a 50% year-over-year growth. Full-year revenue for fiscal 2027 is expected to grow approximately 45% year-over-year to about $12 billion. Revenue for fiscal 2028 is projected to grow again by approximately 50% year-over-year, exceeding the previous expectation of 45%.