Marvell Technology, Inc. – Common
Upcoming Earnings Outlook: Expected Release Date: August 27, 2026 (After Market Close)
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- Fiscal Period: Q2 Fiscal Year 2027 (Quarter ending late July 2026)
- Consensus Estimates: Non-GAAP EPS: $0.87 – $0.93 per share (vs. $0.67 in Q2 FY2026, representing ~30%–38% YoY growth)
- Consensus Revenue: ~$2.60B – $2.71B (vs. $2.01B in Q2 FY2026, representing ~30%–35% YoY growth)
Key Drivers & Long-Term Growth Outlook: Marvell’s custom ASIC program (designing tailored AI chips for cloud hyperscalers like AWS, Google, and Microsoft) and optical connectivity solutions (800G / 1.6T DSPs) remain the primary catalyst.
- Accelerating Quarterly Trajectory: Management guided sequential revenue acceleration throughout FY2027, aiming for quarterly revenue to reach ~$3.0 billion in Q3 and Q4.
Full-Year FY2027 & FY2028 Targets:
- FY2027 Revenue: Expected to reach ~$11.5 billion (+40% YoY growth), driven by >50% growth in the Data Center segment and >70% growth in optical interconnects.
- FY2028 Target: Revenue guided toward ~$16.5 billion as cloud hyperscaler AI capital expenditure expands further.
Key Things to Watch on Earnings Day
- Custom AI ASIC Shipments: Progress on hyperscaler customer design wins ramping into volume production.
- Gross & Operating Margins: Non-GAAP gross margins (target zone ~59–60%) and expense control as R&D investment increases.
- Hyperscaler AI Capex Trends: Any commentary on customer demand pacing for 800G/1.6T electro-optics and PCIe/CXL switches.
- Supply Chain Capacity: Lead times and substrate/co-packaged optics assembly capacity.
