Marvell Technology posted a fiscal first‑quarter profit of $34.5 million, or 4 cents per share, far below the $177.9 million, 20 cents per share, it earned a year earlier. The drop reflects one‑time acquisition costs and related stock‑based compensation. Despite weaker earnings, the chip maker’s top line surged, signaling strong demand in its core markets.

Adjusted earnings stripped of those items came in at 80 cents per share, matching FactSet’s consensus. Analysts had expected the same figure, so the earnings beat vanished once non‑recurring charges were excluded. The one‑off expenses underscore the financial drag of Marvell’s recent acquisitions, which are still being integrated into its product portfolio.

Revenue jumped 28% to $2.42 billion, in line with forecasts, as the data‑center segment now accounts for more than three‑quarters of sales. Gains in the communications business added modest support. The surge confirms investors’ bets on Marvell’s positioning in high‑speed networking chips, a market that could lift the company’s valuation despite the profit dip.

Wall Street analysts see the revenue beat as a catalyst for Marvell’s stock, which has risen modestly since the report. However, the slim profit margin may pressure investors wary of integration risks. The company’s next earnings will test whether the data‑center tailwind can sustain earnings growth.