---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/dolphin/post/39094817.md"
description: "MRVL First Take: Results broadly in line with estimates, with growth largely driven by Data Center.Adj. GPM at 58.5%, down 50bps QoQ, reflecting a mix shift toward lower-margin custom ASIC. The company revised segment reporting this quarter, consolidating from five buckets to two (Data Center; Comm. & Other), underscoring Data Center's importance.Data Center drove growth, up 8.8% QoQ. Dolphin Research estimates AI revenue at approx. $960 mn this quarter. Beyond the print, guidance was 'quite good'.MRVL guides next-quarter revenue to $2.4 bn (+8% QoQ), ahead of the Street's $2.27 bn, driven by optical module chips and custom ASIC. Mgmt again lifted the LT outlook: FY2027 revenue to $11 bn (prev. $10 bn), +34% YoY; FY2028 to $15 bn, ~+40%, a further step-up.Shares had lagged on worries that its ASIC biz could face intensified competition from Taiwan vendors, weighing on growth. Guidance implies ASIC growth of just over 20% YoY, while interconnect products (optical module chips) should post strong momentum, underpinning faster top-line growth.For more, follow Dolphin Research's upcoming notes and Trans. $Marvell Tech(MRVL.US) $MRVL 2X Long ETF(MVLL.US)"
datetime: "2026-03-06T00:11:29.000Z"
locales:
  - [en](https://longbridge.com/en/dolphin/post/39094817.md)
  - [zh-CN](https://longbridge.com/zh-CN/dolphin/post/39094817.md)
  - [zh-HK](https://longbridge.com/zh-HK/dolphin/post/39094817.md)
author: "[Dolphin Research](https://longbridge.com/en/dolphin.md)"
generator: "portal-rs"
---

# MRVL First Take: Results broadly in line with esti…


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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**