Marvell Technology climbs after upbeat Q1 forecast
Chipmaker Marvell Technology's MRVL.O shares rise 13.8% to $86.13 after the bell
MRVL sees Q1 revenue of $2.40 billion, plus or minus 5%, above estimates of $2.27 billion, according to data compiled by LSEG
Marvell expects adj. EPS of 79 cents, plus or minus 5 cents, for Q1, also ahead of an estimate of 74 cents
Company expects overall revenue in fiscal 2027 to grow more than 30% year-on-year, approaching $11 billion
Sees data center revenue growing close to 50% y-o-y in fiscal 2028
Posts Q4 revenue of $2.22 billion vs estimates of $2.21 billion
"We expect year-over-year revenue growth to accelerate each quarter in fiscal 2027, driven by continued strength in our data center business, with bookings continuing to grow at a record pace."- CEO Matt Murphy
Stock has fallen ~11% so far this year
