Marvell Falls on Google Deal Timeline Disappointment

Marvell Technology MRVL has reported strong second-quarter results, but its stock price tumbled by 8.2% to $222.51 before Friday's opening bell.

The data-infrastructure chip specialist smashed a revenue record at $2.739 billion, up 37%, with data-center sales rocketing 46% to roughly $2.17 billion.

However, investors were disappointed by the news that Google's custom-chip deal will not become a major revenue engine until fiscal 2029.

Marvell now expects about $12 billion of fiscal 2027 revenue and approximately $18 billion in fiscal 2028, with a $3.15 billion third-quarter target pointing to another 15% sequential leap.