Marvell reported record Q2 2027 revenue of $2.739B, up 37% YoY, with Data Center revenue growing 46% YoY

Gap shares rose 14% after announcing a new Old Navy CEO and reporting adjusted Q2 earnings of 52 cents per share, beating estimates. Marvell Technology fell 6% despite meeting earnings expectations. Workday gained 1% after surpassing Q2 estimates. Rubrik dropped 7% despite beating earnings and revenue forecasts. Autodesk slid 5% after lowering Q3 and full-year earnings guidance. Elastic N.V. surged 20% after raising full-year guidance. SentinelOne fell 4% due to a weak outlook despite strong Q2

Marvell Technology reported Q2 2027 revenue of $2.739B, up 37% YoY, with GAAP EPS of $0.33 and non-GAAP EPS of $0.94. The company raised its revenue outlook for 2027 and 2028, citing strong demand in data center and AI-related bookings. Q3 guidance includes revenue of $3.15B and non-GAAP EPS of $1.10.

Marvell Technology (MRVL) reported Q2 CY2026 revenue of $2.74B, up 36.5% YoY, beating estimates. Q3 guidance of $3.15B midpoint exceeds analyst expectations by 4%. Non-GAAP EPS of $0.94 met estimates. Inventory levels improved, with DIO at 96 days, below the 5-year average. Shares fell 3.1% post-results.

Nvidia's positive outlook boosted tech stocks globally. European markets saw mixed results, with tech gains offset by declines in French shares and airlines. In the UK, Halfords and Computacenter rose, while Lloyds and banks fell. Nvidia's revenue growth forecast of 70% for next fiscal year drove its stock up 7.8%. Salesforce and CrowdStrike also surged after raising revenue forecasts.

Marvell (MRVL) reported Q2 sales of $2.74B, up 37%, and raised its Q3 revenue forecast to $3.15B. Analysts raised price targets to $300 (Rosenblatt) and $265 (Susquehanna). Growth is expected from partnerships with Microsoft, AWS, and Google, including custom AI silicon programs. Risks include execution delays and competitive pressures.

Workday (WDAY) fell 5% after reporting Q2 earnings beat but lower guidance. Autodesk (ADSK) dropped 6% on in-line guidance. SentinelOne (S) slid 3% on downbeat fiscal 2027 outlook. Rubrik (RBRK) tumbled 10% despite strong results. Marvell (MRVL) fell 2% on inline EPS targets. Ulta (ULTA) rose 2% on Q2 beat. Gap (GAP) surged 9% on earnings beat and upbeat guidance. Affirm (AFRM) surged on strong Q4 results and guidance.