MRVL released its FY2027 Q2 results after hours on Aug 28 Beijing time (quarter ended Jul 2026).
It raised its FY2027 revenue outlook to $12bn (prior $11.5bn), up 45% YoY.Guidance for FY2028 was lifted to $18bn (prior $16.5bn), up 50% YoY, with data center rev. expected to grow 60%+ (vs. NVDA's next-year outlook of 70%+)...
+12FY27/FY28 revenue guide raised to approx. $12bn and $18bn, with FY28 growth re-accelerating to 50%.
However, the custom ramp is pressing Q3 non-GAAP GPM to 57.5–58.5% and is likely to persist into FY28. Mgmt noted the $1.5bn uplift is mainly from optical interconnect scale-up rather than custom chips.
Marvell announced it issued warrants to Alphabet for the first time, sending its shares up 10%+.
Meanwhile, AVGO sold off, reflecting fears that $Marvell Tech(MRVL.US) could win Alphabet's TPU orders.Here, Dolphin Research walks through both companies' deal structures and the implications.
We summarize the key terms and potential impact below.1) Marvell–Alphabet agreement
First, the specific arrangement Marvell signed with Alphabet: the commercial agreement was executed on Jul 29, 2026...Below is Dolphin Research's Trans of Marvell's FY27 Q1 (FQ1 2027; period ended May 2, 2026) earnings call. For our earnings analysis, see 'Marvell: AI mega-interconnects bring another opportunity — can it support the Little Broadcom dream?'.
I. $Marvell Tech(MRVL.US) Core highlights recap. 1) Shareholder returns: repurchased $200mn of stock under the ongoing capital return program, and returned $54mn to shareholders via cash dividends...MRVL released its FY2027 Q1 results after-hours on May 28 (Beijing time). The quarter ended Apr 2026.
1. Revenue: $2.42bn (+9% QoQ), in line with consensus ($2.41bn). The ~$200mn sequential uplift was almost entirely driven by Data Center.2. GPM: 52.1% this quarter, up 40bps QoQ. Margin is affected by amortization of acquired intangibles and other items...Dolphin Research's transcript summary of Marvell's FY2026 Q4 earnings call.
For the analysis, cf. 'Marvell: ASIC card orders fell short; connectivity drives the AI comeback!'. $Marvell Tech(MRVL.US) key takeaways: (1) Outlook — FY2027 total revenue guide raised to $11bn (prior $10bn), with data center revenue +40% YoY and comms & other +10% YoY. FQ4 FY2027 revenue is expected to surpass $3bn...MRVL reported FY2026 Q4 results after hours on Mar 6 (Beijing time), for the quarter ended Jan 2026.
1) Revenue: $2.22bn, +7% QoQ, in line with consensus ($2.21bn).
The $150mn QoQ uplift was primarily driven by data center.2) GPM: 51.7%, +10bps QoQ.
Margins are affected by amortization of acquired assets and other factors...The following are the minutes of Marvell Technology's Q3 2026 earnings call. For an interpretation of the earnings report, please refer to "Marvell: Acquisition to Fill Gaps, Is the NVIDIA Alternative Route Almost Complete?" 1. $Marvell Tech(MRVL.US) Key Financial Data Review Revenue: Achieved a record $2.075 billion in the third quarter, a quarter-over-quarter increase of 3% and a year-over-year increase of 37%. Excluding the divested automotive Ethernet business, core business revenue grew approximately 6% quarter-over-quarter and 41% year-over-year...
Marvell Technology (MRVL.O) released its third-quarter financial report for fiscal year 2026 (ending October 2025) in the early morning of December 3rd, Beijing time, after the U.S. stock market closed: 1. Revenue: $Marvell Tech(MRVL.US) reported revenue of $2.07 billion this quarter, a quarter-on-quarter increase of 3.4%, in line with market expectations ($2.06 billion). The quarter-on-quarter increase of $60 million was mainly driven by enterprise networking and carrier business. 2. Gross Margin: The gross margin for this quarter was 51.6%, a quarter-on-quarter increase of 1.2%...
The following are the minutes of Marvell Technology's Marvell FY2026 Q2 earnings call. For an interpretation of the earnings report, please refer to "Marvell Technology Marvell: Cloud Giants Spend More Generously, Why Didn't ASIC 'Leverage'?" 1. $Marvell Tech(MRVL.US) Key Financial Information Review 1. Capital Deployment and Investment The company has completed the divestiture of its automotive Ethernet business, with the transaction yielding $2.5 billion in all-cash, providing the company with flexibility to continue its stock repurchase program and further invest in technological capabilities to strengthen its technology platform...
