Credo shares slide 18% after record $479M Q1 and raised full-year outlook
AI Market Summary
Credo reported record Q1 revenue of $479M (+114.7% YoY), held non-GAAP gross margin at 68%, and raised full-year revenue growth guidance to above 85% while reiterating an FY27 optical ramp. Despite the improved fundamentals, the stock fell 18% post-earnings, highlighting a sharp divergence between operating results and market pricing that may reflect positioning, valuation sensitivity, or risk-off reactions rather than business deterioration.
Impact level
● Medium
Affected assets
NCSKCRDO2USD/USDT+2.73%
AI Insight · NCSKCRDO2USD/USDTAI Insight
● Neutral
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Credo Technology reported record Q1 revenue of $479M, up 114.7% year over year, topping both internal targets and Wall Street expectations. Non-GAAP gross margin held at 68%, and the company lifted its full-year revenue growth outlook to above 85% while reaffirming its FY27 optical ramp. Despite stronger fundamentals and an upgraded outlook, the stock fell 18% after the earnings release, diverging sharply from the business performance.
