Marvell chairman: expects $12 billion in revenue for fiscal 2027, with an additional 50% growth possible in fiscal 2028

Odaily Planet Daily News Marvell (MRVL) announced its fiscal 2027 Q2 earnings report after the US market closed this morning. The report shows that Marvell achieved record revenue of $2.73 billion in Q2, exceeding market expectations of $2.71 billion; adjusted earnings per share reached $0.94, above the market forecast of $0.93; gross margin stood at 58.9%, surpassing the anticipated 58.8%.

Marvell Chairman and CEO Matt Murphy stated during the earnings call that revenue growth will accelerate further in the second half of the year. He expects Q3 revenue to come in at a midpoint of approximately $3.15 billion, representing a 15% sequential increase and a year-over-year growth of over 50%. Full-year fiscal 2027 revenue is projected to grow approximately 45% year-over-year to around $12 billion. For fiscal 2028, revenue is expected to grow another roughly 50% year-over-year, higher than the previously projected 45%.