Q4 performance and revenue outlook both exceeded expectations, Marvell Technology (MRVL.US) rose over 16.8%

On Friday, Microchip Technology (MRVL.US)’s stock price rose against the market trend. As of the time of writing, the stock was up more than 16.8%, to $88.4. The company’s latest financial results and revenue outlook both exceeded market expectations. In the company’s Q4, revenue grew more than 20% year-over-year to a record $2.22 billion, and adjusted earnings per share were $0.8, slightly above analysts’ expectations of $2.21 billion and $0.79; net profit was $396 million, a substantial year-over-year increase of 97.9%. In the period, data center revenue increased 21% year-over-year to $1.65 billion, surpassing analysts’ expectations of $1.63 billion.

Looking ahead to the first quarter, the company expects revenue to reach $2.4 billion(, plus or minus 5%), with earnings per share of $0.79(, plus or minus 5%), both exceeding analysts’ expectations of $2.28 billion and $0.74. In addition, the company expects fiscal year 2027 revenue to be close to $11 billion, up more than 30% year-over-year, with continued upgrades to targets from last September’s $9.5 billion and December’s $10 billion; it expects fiscal year 2028 revenue to reach $15 billion, up nearly 40% year-over-year, with an increase of about $2 billion compared to the December target.