#marvell盘后跌超5% Marvell (MRVL) fell more than 5%-8% after-hours, mainly due to a “miss on high expectations.”
The company released its FY2027 Q2 results (as of August 1): revenue was $2.739 billion, up 37% year-over-year and slightly above the expected $2.71 billion. Adjusted EPS was $0.94, slightly above $0.93. Data center revenue was $2.172 billion, up 46% year-over-year, accounting for about 79%.
Q3 guidance calls for revenue of $3.15 billion (±5%), higher than analysts’ expectation of about $3.04 billion. Adjusted EPS is around $1.10. The company also raised full-year and FY2028 revenue outlooks (FY27 about $12.0 billion, FY28 about $18.0 billion).
Why did it still drop?
The stock has already surged about 185% this year, pushing valuation and expectations to extremely high levels. What the market wanted was “a bigger-than-expected beat plus strong guidance.” Instead, the results were only a modest beat, and the Q3 gross margin guidance (57.5%-58.5%) was slightly lower than Q2’s 58.9%. A recent large-scale custom chip collaboration with Google (potentially a long-term $100+ billion level) also left the market concerned that contribution timing may be slower than hoped, and it has not yet translated into more aggressive near-term raises. Profit-taking at elevated levels combined with a sentiment that “good news wasn’t兑现（delivered） enough” led to the after-hours selloff.
Quick take: Fundamentals remain strong (robust AI data center and custom silicon demand). The decline is driven more by expectation differences and valuation digestion—not a collapse in performance. Near-term volatility may be high, but over the long term, AI infrastructure demand is still expected to be sustained.
The company released its FY2027 Q2 results (as of August 1): revenue was $2.739 billion, up 37% year-over-year and slightly above the expected $2.71 billion. Adjusted EPS was $0.94, slightly above $0.93. Data center revenue was $2.172 billion, up 46% year-over-year, accounting for about 79%.
Q3 guidance calls for revenue of $3.15 billion (±5%), higher than analysts’ expectation of about $3.04 billion. Adjusted EPS is around $1.10. The company also raised full-year and FY2028 revenue outlooks (FY27 about $12.0 billion, FY28 about $18.0 billion).
Why did it still drop?
The stock has already surged about 185% this year, pushing valuation and expectations to extremely high levels. What the market wanted was “a bigger-than-expected beat plus strong guidance.” Instead, the results were only a modest beat, and the Q3 gross margin guidance (57.5%-58.5%) was slightly lower than Q2’s 58.9%. A recent large-scale custom chip collaboration with Google (potentially a long-term $100+ billion level) also left the market concerned that contribution timing may be slower than hoped, and it has not yet translated into more aggressive near-term raises. Profit-taking at elevated levels combined with a sentiment that “good news wasn’t兑现（delivered） enough” led to the after-hours selloff.
Quick take: Fundamentals remain strong (robust AI data center and custom silicon demand). The decline is driven more by expectation differences and valuation digestion—not a collapse in performance. Near-term volatility may be high, but over the long term, AI infrastructure demand is still expected to be sustained.