Marvell Reports Record Q2 Revenue, Raises Outlook on AI Chip Demand

Marvell Technology reported record second-quarter revenue on Friday, August 28, 2026, and raised its financial outlook for the second consecutive quarter, citing robust demand for its artificial intelligence data center chips. The semiconductor company's results beat analyst expectations, though its stock fell in after-hours trading as investors sought a more significant earnings surprise. For the quarter ended July 2026, Marvell posted net revenue of $2.739 billion, a 37% increase from the same period last year. The figure was $39 million above the midpoint of the company's own guidance provided in May. Data center revenue, which accounted for 79% of total sales, surged 46% year-over-year to $2.17 billion. On a GAAP basis, net income was $308 million, or $0.33 per diluted share. Adjusted net income was $865.9 million, or $0.94 per diluted share, which was one cent above the consensus estimate of $0.93 per share. "Marvell delivered record second-quarter fiscal 2027 revenue of $2.