Credo Stock Drops 11% Despite Beating on Revenue and EPS
Yahoo Finance ·
Credo Stock Drops 11% Despite Beating on Revenue and EPS Renato Neves, CFA Wed, September 2, 2026 at 10:54 AM EDT 1 min read CRDO This article first appeared on GuruFocus . Credo Technology Group ( NASDAQ:CRDO ) fell 11.09% premarket after first quarter revenue rose 114.7% to $479.0 million, ahead of the $473.30 million consensus. Non-GAAP diluted EPS came in at $1.20 against $1.17 expected. GAAP diluted EPS was $0.67. GAAP gross margin fell to 64.5% from 67.4% a year earlier, while non-GAAP gross margin rose to 68.0% from 67.6%. GAAP operating expenses more than doubled to $188.4 million from $89.6 million, outpacing revenue growth. GAAP operating income rose to $120.7 million from $60.7 million, but GAAP operating margin slipped to 25.2% from 27.2%. Share-based compensation rose to $88.0 million from $35.5 million. Cash and short-term investments ended the quarter at $764.3 million. Credo guided second quarter revenue to $525 million to $535 million, with GAAP gross margin of 62.9% to 64.9% and GAAP operating expenses of $199 million to $204 million. Chief executive Bill Brennan said the portfolio now spans connectivity "from millimeters to kilometers, with solutions across optics and copper."
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