Marvell reports Q1 non-GAAP EPS 62c, consensus 61c

Reports Q1 revenue $1.895B, consensus $1.88B. “Marvell (MRVL) delivered record revenue in Q1 of $1.895B, a 63% year-over-year increase, and we are forecasting continued strong growth into the second quarter. This momentum is being fueled by strong AI demand in the data center end market, where our revenue is benefiting from the rapid scaling of our custom silicon programs and robust shipments of our electro-optics products,” said CEO Matt Murphy. “As the industry continues to move toward building custom AI infrastructure, Marvell is uniquely positioned at the center of this transformation. We see our custom silicon business driving strong growth in the second quarter and beyond. We’re excited to showcase these developments and our expanding opportunity at our upcoming custom AI investor event on June 17th.”