Credo Technology Shares Fall Despite Wall Street Beat -- Update

Dow Jones

Jun 02

By Kelly Cloonan

Shares of Credo Technology Group declined as the company forecast its rapid growth will ease up a bit in the current quarter.

The company, which provides high-speed connectivity solutions for data centers, on Monday projected revenue of $465 million to $475 million for the fiscal first quarter, topping the $461.3 million forecast by analysts, according to FactSet.

While the company expects quarterly sales to more than double from the year-ago period, the guidance implies its rapid year-over-year growth will slow from the increases it's seen in recent quarters.

Shares fell 12%, to $199.29, in after-hours trading. Through market close, shares are up 57% year to date.

The guidance came as the company logged higher profit and revenue in its latest quarter, topping Wall Street's estimates.

Credo's fiscal fourth-quarter profit came in at $169.1 million, or 88 cents a share, compared with $36.6 million, or 20 cents a share, a year earlier.

Adjusted earnings per share were $1.16, compared with estimates of $1.02 a share according to analysts polled by FactSet.

Revenue more than doubled to $437 million, compared with analyst estimates of $431.8 million.

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

June 01, 2026 18:38 ET (22:38 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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Through market close, shares are up 57% year to date. \n\n\n  The guidance came as the company logged higher profit and revenue in its latest quarter, topping Wall Street's estimates. \n\n\n  Credo's fiscal fourth-quarter profit came in at $169.1 million, or 88 cents a share, compared with $36.6 million, or 20 cents a share, a year earlier. \n\n\n  Adjusted earnings per share were $1.16, compared with estimates of $1.02 a share according to analysts polled by FactSet. \n\n\n  Revenue more than doubled to $437 million, compared with analyst estimates of $431.8 million. \n\n\n \n\n\n  Write to Kelly Cloonan at kelly.cloonan@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  June 01, 2026 18:38 ET (22:38 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"}}}