Marvel Shares soared 18% higher on Friday as the company posted an earnings beat and gave strong guidance, expecting robust artificial intelligence demand to continue.
The semiconductor company reported adjusted earnings of 80 cents per share for the quarter, beating the 79 cents per share forecast by analysts surveyed by LSEG. The company reported $2.2 billion in fourth-quarter revenue, topping forecasts of $2.1 billion.
“Look at our results that we’re guiding for. 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.
The company expects to accelerate year-over-year revenue growth in each quarter through 2027, Murphy said in the release.
For Q1 2027, the chipmaker expects revenue of $2.4 billion, up +/-5%. Wall Street expected $2.27 billion.
The company’s revenue for data centers will exceed $6 billion in fiscal 2026, up 46% from last year.
Marvell completed the acquisition of Celestial AI and Xcon Technologies last month. The acquisitions are expected to add $250 million in total revenue for fiscal 2028, Murphy told analysts on the earnings call.
The company forecasts revenue of $14.48 billion and earnings per share of $5.35 in fiscal 2028.
Analyst reactions to the earnings were largely positive.
“Overall, we are impressed with the strong multi-year revenue outlook and diversity of the customer program ramps,” JPMorgan analyst Harlan Sur wrote in a note on Friday.
The bank reaffirmed its overweight rating on the stock and raised its price target to $135 from $130.
CNBC’s Christina Partsinevelos contributed to this report.
Marvel One Day Stock Chart
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