Credo Technology Q3 revenue beats estimates

Credo Technology Holding

02/03/2026 21:16

Overview

Connectivity solutions provider's fiscal Q3 revenue rose 201.5% yr/yr, beating analyst expectations

Adjusted EPS for fiscal Q3 beat analyst expectations

Company's net income improved significantly to $157.1 mln

Outlook

Credo expects Q4 revenue between $425.0 mln and $435.0 mln

Company anticipates Q4 GAAP gross margin between 63.9% and 65.9%

Credo projects Q4 non-GAAP operating expenses between $76.0 mln and $80.0 mln

Result Drivers

PRODUCT DEMAND - Growth in AECs and ICs contributed to record revenue

Company press release: ID:nBw93t1fba

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$407 mln
$400.23 mln (11 Analysts)
Q3 Adjusted EPS
Beat
$1.07
$0.96 (12 Analysts)
Q3 Adjusted Net Income
Beat
$208.80 mln
$176.45 mln (11 Analysts)
Q3 Net Income
$157.10 mln
Q3 Gross Margin
68.50%
Q3 Adjusted Gross Margin
68.60%


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 17 "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 $222.50, about 98.2% above its February 27 closing price of $112.27

The stock recently traded at 27 times the next 12-month earnings vs. a P/E of 74 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)