Marvell stock falls as fiscal 2028 revenue reaches $18 billion

Marvell stock fell after its latest quarter showed $2.739 billion in revenue, $0.94 in adjusted EPS, and a raised fiscal 2028 outlook of $18 billion.

Marvell Technology, Inc. (US5738741041) stock fell after the company reported fiscal second-quarter revenue of $2.739 billion on August 27, 2026, alongside adjusted EPS of $0.94 and a fiscal 2028 revenue outlook of $18 billion.

The move followed results that also showed 36.5% year-over-year revenue growth and a third-quarter guide of $3.15 billion, with adjusted EPS expected at $1.10, while a Reuters report on August 27, 2026 said shares slipped as investors focused on the timing of the Google-related AI payoff. Reuters report

Quarterly numbers

The quarterly revenue beat came with $2.74 billion in sales versus $2.71 billion expected, and the company said data center revenue rose 46% year over year to $2.1715 billion. Net income was $308 million, and operating cash flow reached $605.5 million.

That mix matters because Marvell also raised fiscal 2027 revenue guidance to $12 billion from $11.5 billion, implying 45% year-over-year growth, while fiscal 2028 moved to $18 billion from $16.5 billion. The comparison is concrete: the long-range target was lifted by $1.5 billion, or 9.1%.

Market reaction

Marvell traded at $221.64 with volume of 12,184,432 shares in one same-day market snapshot, while another quote page showed a market cap of $211.22 billion and a 52-week range of $61.44 to $329.88. A separate session snapshot showed the stock at $241.45 with a daily change of -1.49%.

For investors, the latest pattern is clear: the quarter beat was paired with a larger long-term target, but the market was still more focused on when the new AI agreement turns into faster revenue growth.

Custom silicon

Marvell's custom silicon business remains the most visible product engine inside the story, with management tying it to data-center demand and to the new Google-related chip agreement discussed around the results.

Stock level

Marvell stock traded at $221.64, and a separate same-day snapshot put the shares at $241.45 after the earnings release.

Company

Company: Marvell Technology, Inc.

ISIN: US5738741041

Ticker: MRVL

Exchange: Nasdaq

Sector / Industry: Information Technology / Semiconductors

Index membership: Nasdaq-100

Market cap: $211.22 billion

Price (as of August 28, 2026): $221.64 USD

Next earnings date: October 6, 2026