Credo Technology Group Holding Ltd reports results for the quarter ended in October - Earnings Summary

Credo Technology Holding

29/11/2023 22:37

* Credo Technology Group Holding Ltd  CRDO.OQ  reported
quarterly
adjusted earnings of 1 cent​​ per share for the quarter ended in
October, lower than the same quarter last year, when the company
reported EPS of 2 cents.  The mean expectation of nine analysts
for the quarter was for breakeven results per share. Wall Street
expected results to range from -1 cents tozero cents per share.
    * Revenue fell 14.3% to $44.04 million from a year ago;
analysts
expected $42.70 million. 
    * Credo Technology Group Holding Ltd's reported EPS for the
quarter was a loss of 4 cents​.
    * The company reported a quarterly loss of $6.62 million.
    * Credo Technology Group Holding Ltd shares had risen
by 21.5%
this quarter and gained 39.2% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 39% in
the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 11 "strong buy" or "buy," 1
"hold" and 1 "sell" or "strong sell." 
    * The average consensus recommendation for the
semiconductors peer
group is also "buy"

Wall Street's median 12-month price target for Credo Technology
Group Holding Ltd is $19.35 
This summary was machine generated from LSEG data November 29 at
10:36 p.m. UTC. ​All figures in US dollars unless otherwise
stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Oct. 31 2023      0.00           0.01           Beat
 Jul. 31 2023      -0.03          -0.03          Met
 Apr. 30 2023      -0.04          -0.04          Met
 Jan. 31 2023      0.04           0.05           Beat