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Marvell Technology Inc. (NASDAQ: MRVL) posted stronger-than-expected first-quarter fiscal 2027 results, driven by booming demand for AI infrastructure and data center solutions. The semiconductor company reported record revenue and issued upbeat guidance for the second quarter, sending Marvell shares up 2.8% in after-hours trading on Wednesday.
Marvell reported adjusted earnings per share of $0.80, slightly above Wall Street expectations of $0.79. Quarterly revenue reached a record $2.42 billion, beating analyst estimates of $2.4 billion and marking a 28% increase from $1.90 billion reported during the same period last year.
The company also completed the acquisitions of Celestial AI and XConn Technologies in February 2026, strengthening its position in the fast-growing artificial intelligence and cloud computing markets. Financial results from both companies were included starting from their acquisition dates.
For the second quarter of fiscal 2027, Marvell projected earnings between $0.88 and $0.98 per share, with the midpoint of $0.93 topping analyst forecasts of $0.90. The company also expects revenue of approximately $2.7 billion, representing 35% year-over-year growth and exceeding the consensus estimate of $2.6 billion.
CEO Matt Murphy said Marvell is experiencing “exceptional AI-related bookings,” prompting the company to significantly raise its revenue outlook for fiscal 2027 and fiscal 2028. The strong performance highlights increasing demand for AI chips, networking products, and advanced data center technologies.
Data center revenue accounted for 76% of total company revenue and climbed 27% year over year to $1.83 billion. Marvell reported a GAAP gross margin of 52.1% and an adjusted gross margin of 58.9%. Operating cash flow also hit a record $638.8 million during the quarter.
The latest earnings report reinforces Marvell’s growing role in the AI semiconductor market as enterprises continue investing heavily in artificial intelligence infrastructure and cloud data centers throughout 2026.
