Marvell Stock Drops 6% After Q2 Earnings Beat

Marvell Technology shares fell sharply on Friday, August 28, 2026, despite the semiconductor company reporting strong quarterly results and raising its financial outlook. The stock dropped approximately 6% to 8% in early trading, a reaction that analysts attributed to the company's high valuation and investor expectations that had already priced in significant growth. The company reported its fiscal second-quarter results for 2027 after the market closed on Thursday, August 27. Marvell posted adjusted earnings of $0.94 per share on revenue of $2.74 billion, surpassing Wall Street's consensus estimates of $0.93 per share and $2.71 billion in sales. Revenue grew 37% year over year, while data center revenue, which accounted for about 79% of total sales, increased 46% to $2.17 billion. Under generally accepted accounting principles, earnings were $0.33 per share, representing a 50% increase from the prior year. The company also issued strong guidance for the upcoming quarter and the full fiscal year. For the third quarter of fiscal 2027, Marvell projected revenue of approximately $3.15 billion and adjusted earnings per share between $1.05 and $1.15.