Marvell Technology's NASDAQ: MRVL market signaled a top in late May, gapping up after the strong fiscal Q1 2027 results to fall from the high and create an ominous candle.
MRVL's AI-fueled data center growth drives record Q1 revenues as MRVL raises fiscal 2027 and 2028 outlooks.
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Marvell Technology (MRVL) came out with quarterly earnings of $0.8 per share, in line with the Zacks Consensus Estimate . This compares to earnings of $0.62 per share a year ago.
Marvell Technology NASDAQ: MRVL reported record revenue for its first fiscal quarter of 2027 and raised its revenue outlook for both fiscal 2027 and fiscal 2028, citing accelerating demand across its data center portfolio and continued customer investment in artificial intelligence infrastructure.
The semiconductor company posted a smaller quarterly profit due in part to acquisition costs, but revenue jumped nearly 28% as its data-center business boomed.
Marvell Technology (MRVL) is inching higher in extended hours after the company posted stellar Q1 results and issued impressive guidance for the current quarter. The custom AI chips specialist reported a 28% year-on-year increase in revenue to a record $2.42 billion on $0.8 per share of earnings (EPS) – slightly beating consensus set at $0.79 per share.
The semiconductor company posted a smaller profit of $34.5 million due in part to acquisition costs, but revenue soared nearly 28% as its data center business booms.