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2 clusters · 7 sources · 16 days · First seen 26 days ago · Last updated 10 days ago

Credo Technology Group financial performance

Overview

Credo Technology Group reported record fiscal first-quarter 2027 revenue of $479 million, marking a 115% increase compared to the previous year. The company attributed this growth to rising demand for AI infrastructure connectivity products, specifically noting the need for faster, power-efficient data rates as AI cluster sizes expand.

CEO Bill Brennan stated that the company has achieved seven consecutive quarters of triple-digit year-over-year revenue growth. Financial results for the quarter included a non-GAAP net income of $236.3 million and a non-GAAP gross margin of 68%. For the upcoming fiscal second quarter, Credo projected revenue between $525 million and $535 million.

Despite these strong earnings, the company’s stock experienced a 20% decline during trading following a price target reduction by JPMorgan Chase & Co.

Entities

Credo Technology Group Holding Ltd. · Jefferies Financial Group · Alphabet · Wells Fargo & Company · HC Wainwright

Timeline

10 days ago

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26 days ago

[BUSINESS] 3 sources
Credo Technology and Cibus see divergent market activity
Credo Technology Group shares rose 8.8% amid positive analyst price targets, while Cibus, Inc. faces lowered earnings forecasts following a quarterly miss.

Sources

altonivel.com.mx · cryptonomist.ch · europesays.com · last10k.com · otravel.com · seekingalpha.com · stocknews.com

This summary has been updated 1 time: see revision history