Marvell Technology Group (MRVL)

NASDAQ:MRVL

MRVL

Marvell

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Marvell (MRVL) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Aug 20, 2026

After Close (Confirmed)

Period Ending

2027 (Q2)

Consensus EPS Forecast

0.92

Last Year’s EPS

0.67

Same Quarter Last Year

Analyst Consensus

Strong Buy

Based on 30 Analysts Ratings

Earnings Call Summary

Q1 2027

Earnings Call Date:May 27, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call conveys a strongly positive operational and financial momentum: record quarterly revenue, robust non-GAAP profitability, sizable upgrades to fiscal 2027–2028 revenue outlooks, and accelerating data center and interconnect growth driven by new products, partnerships (notably NVIDIA), and strategic M&A. Management also highlighted cash generation and proactive steps to secure capacity. Key near-term negatives are a temporary GAAP EPS hit from acquisition accounting, elevated debt/share count from recent deals, modest sequential softness in the communications end market, and execution/timing risk tied to multi-year ramps and sustained customer CapEx. Overall, the positive achievements, upgrades, and clear tailwinds in the core data center and interconnect businesses significantly outweigh the transitory and execution-related lowlights.

Company Guidance

Marvell guided Q2 FY27 revenue at $2.7 billion (+/‑5%), implying roughly 12% sequential and 35% year‑over‑year growth at the midpoint, with GAAP gross margin of 52.1–53.1% and non‑GAAP gross margin of 58.25–59.25%; GAAP operating expense of ~ $960M and non‑GAAP op expense of ~ $600M; GAAP other expense ~ $68M (non‑GAAP ~ $35M), a non‑GAAP tax rate of 11%, basic shares ~899M / diluted ~915M, GAAP EPS $0.32–$0.42 and non‑GAAP EPS $0.88–$0.98. For FY27 management now expects revenue ≈ $11.5B (~40% YoY) with data center ~50% growth and interconnect >70% YoY (communications ≈10% growth), Q3 quarterly revenue of ~ $3.0B and Q3/Q4 growth of at least 10% sequentially (data center ~50% of company revenue by Q4); for FY28 they forecast revenue ≈ $16.5B (~45% YoY) with data center ~55% growth and custom revenue more than doubling, FY27 non‑GAAP op expense ≈ $2.45B, FY28 op expense growth mid‑to‑high‑teens, and about $1B of supplier prepayments planned this fiscal year to secure capacity.

Record Revenue and Upgraded Outlook

Q1 revenue of $2.418B, up 9% sequentially and 28% year-over-year. Q2 guidance midpoint $2.7B (≈+12% sequential, +35% YoY). Fiscal 2027 revenue outlook raised to ~ $11.5B (≈+40% YoY) and fiscal 2028 outlook to ~$16.5B (≈+45% YoY).

Data Center Leadership and Growth

Record data center revenue of $1.8B in Q1 (76% of total), +11% sequential and +27% YoY. Management expects data center revenue to grow ~50% in fiscal 2027 and ~55% in fiscal 2028.

Interconnect Business Acceleration

Interconnect growth outlook increased to >70% YoY for fiscal 2027 (up from prior 50%). Drivers include strong demand for 800G, ramping 1.6T (200G per lane) solutions, DCI transitions to 1.6T, and scale-out/scale-up networking needs.

DCI and Optical Momentum

Leadership in pluggable DCI with first secure 1.6T ZR/ZR+ modules (2nm coherent DSP) sampling this year. Management sees line of sight to a $1B annualized DCI module business in fiscal 2028 (≈2x fiscal 2026 ~$500M).

Strong Profitability and EPS Performance (Non-GAAP)

Q1 non-GAAP gross margin 58.9% and non-GAAP operating margin 35%. Non-GAAP EPS of $0.80 (beat midpoint by $0.01) representing ~29% YoY growth. Q2 non-GAAP EPS guidance $0.88–$0.98.

Record Operating Cash Flow and Capital Returns

Record cash flow from operations of $639M in Q1. Returned capital via $200M share repurchase and $54M dividends in the quarter. Inventory stable at $1.4B.

Strategic Partnerships and Acquisitions Strengthening Roadmap

Expanded collaboration with NVIDIA (optics, NVLink fusion, AI RAN). Acquisitions: Polariton (plasmonic silicon photonics; demonstrated plasmonic modulator bandwidth >1 THz), Celestial AI (photonic fabric & low-power analog SerDes), and XConn — all cited as accelerating scale-up optics, custom, and switching efforts.

Product & Technology Leadership at Multiple Nodes

Broad portfolio wins and ramps: TIAs/drivers expected to exceed $1B annualized run rate in coming quarters; shipping 1.6T and next-gen PAM/400G-per-lane demonstrations; 6.4T light engine engagements and multiple photonics approaches (MZM, EAM, MRM, plasmonics).

Custom/XPU Momentum and Ambitious Targets

Custom revenue on track to grow >20% in fiscal 2027 and to more than double in fiscal 2028. Management retains line of sight to >$10B custom (XPU + attached) in fiscal 2029 driven by flagship XPU program, multiple XPU-attached ramps (NIC, CXL) and new tier-1 wins.

Proactive Capacity Strategy

Company is locking in supply via strategic actions — including planned ~$1B in supplier prepayments for FY27 — to secure capacity and support aggressive revenue ramps, funded by strong cash flow.

Marvell (MRVL) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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MRVL Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 20, 2026	2027 (Q2)	0.92 / -	0.67	―	―	―
May 27, 2026	2027 (Q1)	0.80 / 0.80	0.62	29.03% (+0.18)
Mar 05, 2026	2026 (Q4)	0.79 / 0.80	0.6	33.33% (+0.20)
Dec 02, 2025	2026 (Q3)	0.74 / 0.76	0.43	76.74% (+0.33)
Aug 28, 2025	2026 (Q2)	0.67 / 0.67	0.3	123.33% (+0.37)
May 30, 2025	2026 (Q1)	0.61 / 0.62	0.24	158.33% (+0.38)
Mar 05, 2025	2025 (Q4)	0.59 / 0.60	0.46	30.43% (+0.14)
Dec 03, 2024	2025 (Q3)	0.41 / 0.43	0.41	4.88% (+0.02)
Aug 29, 2024	2025 (Q2)	0.29 / 0.30	0.33	-9.09% (-0.03)
May 30, 2024	2025 (Q1)	0.24 / 0.24	0.31	-22.58% (-0.07)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

MRVL Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 27, 2026	$198.70	$204.83	+3.09%
Mar 05, 2026	$75.64	$89.53	+18.35%
Dec 02, 2025	$92.78	$100.08	+7.87%
Aug 28, 2025	$77.08	$62.75	-18.60%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.