$2.418 billion in fiscal first-quarter revenue marked a record for Marvell, up 28% from a year earlier and $18 million above the midpoint of its March guidance.
AI-related bookings drove the beat and a stronger outlook, with CEO Matt Murphy saying demand is broad across data-center products including 800G and 1.6T optics, 51.2T Ethernet switches and custom XPU solutions.
$2.7 billion in second-quarter revenue is Marvell's midpoint forecast, implying 35% year-over-year growth; it also projected non-GAAP EPS of $0.93 plus or minus $0.05.
$638.8 million in operating cash flow set another record, while first-quarter results included contributions from Celestial AI and XConn after their February acquisitions.
Data center remained the growth engine at $1.83 billion, or 76% of revenue, underscoring Marvell's rising exposure to AI infrastructure spending through fiscal 2027 and 2028.
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