- Marvell reported record Q2 revenue of $2.739 billion, up 37% year over year, while Data Center revenue rose 46% to $2.172 billion and reached 79% of company revenue.
- Marvell raised its FY27 revenue outlook to about $12 billion from $11.5 billion and its FY28 target to about $18 billion from $16.5 billion.
- The expanded Google custom-silicon agreement represents up to $120 billion of cumulative purchases through FY33, but the larger revenue contribution is expected primarily from FY29.
- MRVL fell about 10% despite beating Q2 estimates, reflecting elevated expectations after a roughly 150% 2026 rally and the delayed timing of the Google payoff.
- Investors are looking to Marvell’s October 6 Investor Day for more detail on the FY29 custom-silicon revenue ramp.