Growth was driven primarily by the company's data center business, which generated $1.832 billion, accounting for 76% of total revenue and increasing 27% year over year. Management highlighted exceptionally strong AI-related demand across optical interconnects, Ethernet switching solutions, and custom XPU products. The Communications and Other segment also performed well, producing $585.1 million in revenue, up 29% from the prior year. During the quarter, Marvell further expanded its AI and connectivity portfolio through the acquisitions of Celestial AI and XConn Technologies.
Future Outlook
- Q2 FY27 Revenue Guidance: Marvell expects second-quarter revenue of approximately $2.7 billion (±5%), representing roughly 35% year-over-year growth.
- Earnings Guidance: The company forecasts GAAP diluted EPS of $0.37 (±$0.05) and non-GAAP diluted EPS of $0.93 (±$0.05).
- Raised Long-Term Outlook: Supported by continued strength in AI and data center demand, management has increased its revenue projections for both fiscal 2027 and fiscal 2028.