Marvell QJul26
- F27 (C26) revenue raised by $500M (+45% y/y) while F28 (C27) revenue raised by $1.5B (+50% y/y); incremental largely driven optical connectivity though custom is also a part- F28 guidance already includes the Google warrant revenue; F29 and beyond will see the step-up- F27 DC growth raised to 60% y/y (vs 50% prior); F28 DC raised to >60% y/y (vs 55% prior); F28 supported by additional supply secured- F28 custom still expected to >2x y/y (not capped); F29 custom >$10B target reiterated with upside bias- Revenue up 13% q/q and 37% y/y to $2.739B at 58.9% non-GAAP GM (flat q/q); both above midpoint- QOct guided up 15% q/q to $3.15B; 4Q accelerates furtherSource: Sravan Kundojjala
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