Broadcom vs Marvell AI earnings
Analysis based on 6 articles · First reported Jul 01, 2026 · Last updated Jul 11, 2026
The contrasting earnings reports highlight the scale advantage of Broadcom over Marvell in AI silicon, with Broadcom's massive revenue and cash flow versus Marvell's growth-through-acquisition strategy. Market sentiment is mixed: Broadcom's stock fell despite strong results due to high expectations, while Marvell's stock surged but trades at a higher multiple, posing concentration risk if AI capex slows.
Broadcom and Marvell Technology both reported AI-fueled quarterly earnings within a week of each other in May-June 2026. Broadcom's Q2 FY2026 revenue reached $22.187 billion, up 47.9% year over year, with AI semiconductor revenue of $10.8 billion, up 143%. CEO Hock Tan guided Q3 AI revenue to $16 billion, over 200% growth. Marvell's Q1 FY2027 revenue was $2.418 billion, up 27.6%, with data center segment at $1.833 billion (76% of revenue). CEO Matthew Murphy (disambiguation) raised revenue outlook for fiscal 2027 and 2028. Broadcom holds ~70% of custom AI ASIC market, while Marvell is acquiring Celestial AI and XConn Technologies to build optical interconnect capabilities. Broadcom's free cash flow margin is 46%, funding dividends and buybacks; Marvell raised $2 billion in convertible preferred and saw GAAP net income fall 80.61% due to acquisition costs. Investor reaction: Marvell shares up 39.78% post-earnings, Broadcom down 22.15% despite beating estimates.
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