Marvell shares popped 18% on Friday as the company posted an earnings beat and issued strong guidance, expecting strong artificial intelligence demand to continue.
The semiconductor company reported adjusted earnings of 80 cents per share for the quarter, exceeding the 79 cents per share expected by analysts polled by LSEG. The company reported $2.2 billion in fourth-quarter revenue, topping a forecast of $2.1 billion.
“Look at our results that we’re guiding. Look at our outlook for this year. Look at our outlook for next year. Do you see me blinking? You don’t,” CEO Matt Murphy told analysts on the earnings call.
Murphy said in a release that the company expects year-over-year revenue growth to accelerate in each quarter of 2027.
For Q1 2027, the chipmaker expects revenue of $2.4 billion, +/-5%. Wall Street expected $2.27 billion.
The company’s revenue for data centers in fiscal 2026 surpassed $6 billion, an increase of 46% from last year.
CNBC’s Kristina Partsinevelos contributed to this report.
Marvell one-day stock chart.
