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Mar 3, 2026 8:01 AM

Credo Technology Strong Earnings Fails To Stem Stock Slide

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) shares are down during Tuesday’s premarket session following the company’s recent third-quarter earnings report.

The stock’s decline comes as it reported strong quarterly results, but broader market pressures are adding to the downward momentum, with major indices experiencing losses on the previous trading day.

CRDO Earnings Beat with Strong Growth

Credo Technology, on Monday, reported quarterly adjusted earnings of $1.07 per share, surpassing the consensus estimate of 95 cents, while revenue reached $407.01 million, exceeding the $400.23 million forecast.

CEO Bill Brennan highlighted the significant growth, noting that revenue increased by over 50% sequentially and 200% year-over-year.

“With continued growth in AECs and ICs and the announcement of three new multi-billion dollar TAM expansions through ZeroFlap optics, ALCs, and OmniConnect, we remain confident in our ability to innovate and grow in the expanding AI infrastructure landscape,” Brennan commented in a press release on Monday.

In addition, the company expects fourth-quarter revenue ...

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