Marvell's AI Bookings Are Stellar. But Its Gross Margin Guide Is What Moved the Stock.
The chipmaker raised nearly all the figures it gave to investors on Thursday. The one number it guided lower sent the stock down.
Overview
Chipmaker Marvell Technology (NASDAQ:MRVL) reported its fiscal second quarter of 2027 results after the market closed on Thursday, and by almost every measure the update was impressive. Revenue marked a quarterly record of $2.739 billion, up 37% year over year, data center revenue grew even faster, and management raised its revenue outlook for both this fiscal year and the next.
Still, the stock fell, dropping about 8% in after-hours trading.
Details
"AI-related bookings remain exceptionally robust, and we expect our revenue growth to accelerate further through the remainder of fiscal 2027," CEO Matt Murphy said in the press release announcing the results.
Source
Originally published at www.fool.com.
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