Marvell Technology (NASDAQ:MRVL) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS
Data center revenue rose 46% to $2.17 billion as the company forecast $3.15 billion in third-quarter sales, Reuters said.
- Marvell Chairman and CEO Matt Murphy reported record second-quarter revenue of $2.74 billion Thursday, driven by surging demand for AI-related data center chips, and raised the annual outlook for a second consecutive quarter.
- Hyperscalers are increasingly shifting to custom silicon to avoid relying on Nvidia, creating a powerful tailwind for Marvell's custom business as data center revenue climbed 46% year over year to $2.17 billion.
- Second-Quarter adjusted earnings reached $0.94 per diluted share, surpassing the $0.92 expected by analysts, while data center revenue accounted for 79% of total net revenue and communications revenue rose 10%.
- The Santa Clara, Calif.-based semiconductor company forecast third-quarter revenue of $3.15 billion and scheduled an investor day for Oct. 6, 2026, as Murphy said, "AI-related bookings remain exceptionally robust."
- Industry shifts toward inference workloads are boosting demand for purpose-built chips, which outperform commodity processors, positioning Marvell to detail its long-term AI infrastructure strategy at the Oct. 6 investor day.
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Aug 28 (Reuters) - Marvell Technology's shares fell 8% to $223.1 in premarket trading on Friday as concerns about the potential upside from its AI chip deal with Google overshadowed better-than-expected results from the semiconductor designer. The com...
Marvell Technology (NASDAQ:MRVL) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS
Marvell Technology (NASDAQ:MRVL - Get Free Report) released its earnings results on Thursday. The semiconductor company reported $0.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.93 by $0.01. The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.72 billion. Marvell Technology had a net margin of 28.99% and a return on equity of 13.83%. The company's revenue for…
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