Marvell Technology, Inc. (NASDAQ: MRVL) impressed Wall Street with its fourth-quarter results, surpassing expectations and delivering first-quarter guidance that outshined analyst estimates. The announcement, fueled by strong demand for the company's AI data center products, sent shares soaring 9%.

The semiconductor giant reported adjusted earnings per share (EPS) of $0.80 for the fourth quarter, narrowly beating the consensus estimate of $0.79. Revenue climbed to a record $2.22 billion, marking a 22% year-over-year increase and slightly edging past the $2.21 billion forecast.

Looking ahead, Marvell projected first-quarter fiscal 2027 revenue to hit $2.40 billion at the midpoint, significantly outpacing the $2.28 billion consensus. The company also forecasted adjusted EPS in the range of $0.74 to $0.84, with a midpoint of $0.79, comfortably above the $0.74 analyst estimate.

“Marvell achieved record fiscal 2026 revenue of $8.195 billion, growing 42% year-over-year, driven by surging AI demand,” said Matt Murphy, Marvell's Chairman and CEO. “We anticipate accelerating year-over-year revenue growth each quarter in fiscal 2027, thanks to the continued strength of our data center business and record-breaking bookings.”

The company's data center segment led the charge, generating $1.65 billion in revenue during the quarter. This accounted for 74% of total sales and reflected a 21% year-over-year increase. Meanwhile, the communications and other segment contributed $567.4 million, up 26% from the previous year.

Marvell also reported a GAAP gross margin of 51.7%, with an adjusted gross margin reaching 59.0%. For the first quarter, the company expects adjusted gross margins to range between 58.25% and 59.25%.

With robust AI-driven demand and a strong outlook for fiscal 2027, Marvell continues to solidify its position as a leader in the semiconductor industry.

For more investor relations information on Marvell Technology Inc. please visit www.investor.marvell.com .