Marvell Technology Reports $2.74B Q2 Revenue Driven by AI Demand

Marvell Technology has posted impressive fiscal Q2 2027 results, achieving a revenue of $2.739 billion, which is a 37% increase from $2.006 billion in the same quarter last year. This performance slightly exceeded the company's own guidance.

The data center segment has been a significant driver of this growth, generating $2.17 billion in revenue, a remarkable 46% increase year-over-year, and accounting for about 79% of Marvell's total revenue. CEO Matt Murphy attributed this surge to strong AI-related bookings, particularly in optical interconnects, Ethernet switches, and custom XPU products.

Operating cash flow for the quarter reached $605.5 million. Looking ahead, Marvell has provided a bullish outlook for Q3, projecting revenue to be around $3.15 billion, with non-GAAP earnings per share expected to be $1.10.

Marvell's strategic acquisitions, including Celestial AI and XConn, along with a partnership with NVIDIA, are expected to bolster its position in the AI infrastructure market. The company has also revised its revenue outlook for fiscal years 2027 and 2028 upward, reflecting its confidence in sustained growth driven by AI demand.