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Credo Technology Q1 Earnings In-Line, Revenue Tops Estimates

By Yasin Ebrahim

Investing.com - Credo Technology reported Wednesday fiscal first-quarter profit that was in line, and revenue that topped Wall Street estimates, driven by strong product revenue.   

Credo Technology (NASDAQ:CRDO) fell 2% in afterhours trading following the report.

The company reported earnings of 3 cents a share, in line with analysts' estimates, while revenue of $46.5 million was ahead of expectations of $45.7 million.

The beat on the top line was supported by a jump in product revenue to $35.3 million from $7.3 million last year.  

Looking ahead to the fiscal second quarter, the company guided revenue in a range of $48.5 million to $52.5 million, in line with estimates for $49.2 million. For the full-year, revenue guidance of at least $200 million was maintained.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.