Chipmaker Marvell Edges Above Estimates But Stock Falls

Marvell Technology reported Q2 FY27 revenue of $2.74B, exceeding analyst estimates of $2.71B. EPS was $0.94, beating consensus but missing whisper expectations. Data center sales, 79% of revenue, grew 46% YoY. The company forecasts $3.15B in Q3 revenue.

Marvell Technology Inc reported Q2 revenue of $2.7B, up 37% YoY, beating estimates. Data center revenue rose 46% to $2.2B. Adjusted EPS was $0.94, up 40% YoY. Q3 guidance: revenue $3.15B, adjusted EPS $1.10, both above estimates.

U.S. stock futures were steady after Nvidia's (NVDA) strong earnings drove tech gains. NVDA shares rose 8.7%, boosting the Nasdaq 1.6%. Investors await Fed Chair Warsh's speech at Jackson Hole for inflation and rate clues. Salesforce (CRM) and CrowdStrike (CRWD) also advanced. Gap (GAP) shares jumped 13% on earnings, while Marvell (MRVL) fell 7% despite a robust outlook.

Marvell reported record Q2 2027 revenue of $2.739B, up 37% YoY, with Data Center revenue growing 46% YoY. The company's Data Center segment is growing faster than its overall business, indicating expanding AI infrastructure budgets beyond major chipmakers.

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.