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Marvell boosts fiscal 2027 and 2028 revenue outlook on data center AI
Marvell said data center revenue reached $2.17 billion in the quarter, climbing 46% year over year and accounting for 79% of total sales.
Marvell told investors its AI-linked data center momentum is accelerating, raising its fiscal 2027 and fiscal 2028 revenue guidance for a second consecutive quarter, according to Yahoo Finance. In its second-quarter fiscal 2027 earnings call on August 27, the chipmaker reported record revenue of $2.739 billion, up 37% year over year. Data center sales grew 46% year over year to $2.17 billion and represented 79% of total revenue, with management describing the overall trajectory as continuing to strengthen. Marvell now expects fiscal 2027 revenue of roughly $12 billion, up from the $11.5 billion outlook it gave investors one quarter earlier. For fiscal 2028, the company expects about $18 billion, an increase of $1.5 billion from its prior estimate. Management also lifted data center growth guidance, projecting about 60% growth for fiscal 2027 and more than 60% for fiscal 2028, alongside third-quarter revenue guidance of $3.15 billion at the midpoint, implying year-over-year growth above 50%. On profitability, Marvell reported a non-GAAP operating margin of 36.6%, up 180 basis points year over year, and non-GAAP earnings per share of $0.94, up 40% year over year, while noting it is securing extra chip supply amid ongoing industry constraints.