Overview
Credo fiscal Q2 revenue grows 272.1% yr/yr, beating analyst expectations
Adjusted EPS for fiscal Q2 beats consensus, reflecting strong operational performance
Company expects fiscal Q3 revenue between $335 mln and $345 mln, indicating continued growth
Outlook
Company expects Q3 revenue between $335.0 mln and $345.0 mln
Credo projects Q3 GAAP gross margin of 63.8% to 65.8%
Company anticipates Q3 non-GAAP operating expenses of $68.0 mln to $72.0 mln
Result Drivers
AI CLUSTER EXPANSION - Revenue growth attributed to the build-out of AI training and inference clusters
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$268 mln
$234.80 mln (9 Analysts)
Q2 Adjusted EPS
Beat
$0.67
$0.48 (9 Analysts)
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 15 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the semiconductors peer group is "buy"
Wall Street's median 12-month price target for Credo Technology Group Holding Ltd is $165.00, about 7.6% below its November 28 closing price of $177.60
The stock recently traded at 75 times the next 12-month earnings vs. a P/E of 69 three months ago
Press Release: ID:nBwsl6Pxa
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
