Marvell Technology (MRVL) Q1 FY2027 earnings: revenue $2.4 billion, up 27.6% on the year
Marvell Technology, Inc. (MRVL) reported revenue of $2.4 billion for Q1 FY2027, the quarter ended 2 May 2026, up 27.6% on the same quarter a year earlier. Net income was $34 million, down 80.6% on the year, and diluted earnings per share $0.04. The figures are the company's own, from the 10-Q it filed with the SEC on 28 May 2026.
Revenue
$2.4 billion
+27.6% on the year · +9.0% on the quarter
Q2 FY2025Q1 FY2027
Operating margin
14.0%
14.3% a year earlier
Q2 FY2025Q1 FY2027
Net income
$34 million
-80.6% on the year · -91.3% on the quarter
Q2 FY2025Q1 FY2027
Diluted EPS
$0.04
-80.0% on the year · -91.3% on the quarter
Q2 FY2025Q1 FY2027
this quarterthe same quarter a year earlierHover a bar for its figure.
What management said
Guidance figures: 9 new.
Revenue reached a record $2.418 billion: Net revenue was a new record and $18.0 million above the mid-point of the guidance given on March 5, 2026.
Data center was 76% of revenue: Data center revenue was $1,832.7 million, up 27% year-over-year and 11% sequentially, making up 76% of total net revenue.
Raised fiscal 2027 and 2028 revenue guidance: Management linked the raised revenue guidance for fiscal 2027 and fiscal 2028 to AI-related bookings and to demand across several product lines.
$ million except per share. Read moreFourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
Q1 FY2027
Q4 FY2026
Q1 FY2026
On the quarter
On the year
Last 8 quarters
Operating cash flow
639
374
333
+70.9%
+91.9%
Capital expenditure
156
114
119
+36.2%
+31.1%
Free cash flow
483
259
214
+86.2%
+125.6%
Free cash flow margin
20.0%
11.7%
11.3%
Cash from investing
-1,421
-122
-94.1
Cash from financing
1,987
-327
-301
Share-based compensation
208
143
142
+45.2%
+46.1%
Buybacks
200
200
340
-0.0%
-41.2%
Dividends paid
53.8
50.8
51.8
+5.9%
+3.9%
Dividend per share
$0.06
n/a
$0.06
0.0%
Diluted shares, weighted
893m
856m
876m
+4.3%
+2.0%
Shares outstanding at period end
875m
847m
862m
+3.2%
+1.5%
Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.
Balance sheet
$ million
Q1 FY2027
Q4 FY2026
Q1 FY2026
On the quarter
On the year
Last 8 quarters
Shareholders' equity
18,216
14,308
13,313
+27.3%
+36.8%
Short-term borrowings
0.0
500
1,255
Debt
4,961
4,471
4,233
+11.0%
+17.2%
Operating lease liabilities
261
263
229
-0.7%
+14.0%
Other liabilities
3,506
2,743
994
+27.8%
+252.7%
Total liabilities and equity
26,944
22,285
20,024
+20.9%
+34.6%
Fixed assets
972
935
775
+4.0%
+25.5%
Goodwill
13,884
11,062
11,062
+25.5%
+25.5%
Intangible assets
2,562
1,755
2,451
+46.0%
+4.5%
Cash and equivalents
3,844
2,639
886
+45.7%
+333.9%
Receivables
1,872
2,187
1,144
-14.4%
+63.6%
Inventory
1,401
1,388
1,071
+0.9%
+30.8%
Other assets
2,411
2,320
2,635
+3.9%
-8.5%
Total assets
26,944
22,285
20,024
+20.9%
+34.6%
Questions
What was Marvell Technology's revenue in Q1 FY2027?
Marvell Technology (MRVL) reported revenue of $2.4 billion for Q1 FY2027, the quarter ended 2 May 2026, up 27.6% on the same quarter a year earlier.
How much did Marvell Technology earn in Q1 FY2027?
Net income for Q1 FY2027 was $34 million, down 80.6% on the year, and diluted earnings per share $0.04.
When did Marvell Technology report Q1 FY2027 results?
Marvell Technology filed its 10-Q for the quarter ended 2 May 2026 with the SEC on 28 May 2026.
Each quarter as filed, linked to its filing. Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.
10-Q for the period ended 2 May 2026, filed 28 May 2026: the filing.