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● TRACKER Updated 13d ago · 14 sources tracked

Credo Technology Group Holding Ltd Reports First Quarter of Fiscal Year 2027 Financial Results

Credo Technology Group Holding Ltd shares dropped between 8% and 20% following first-quarter fiscal 2027 results that exceeded revenue and earnings targets. The company reported revenue of $479 million, a 114.7% increase year over year, and GAAP net income of $129.4 million. Despite the growth driven by AI infrastructure demand, investors reacted negatively to margin compression, with gross margins falling to 64.5%. Market reactions varied by source, with some reporting a 19.96% decline on September 2 and others noting an 18% plunge to a trading price of $169.

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  • ✓ Credo Technology Group Holding Ltd reported first-quarter fiscal 2027 revenue of $479 million.
  • ✓ The company's GAAP net income for the first quarter of fiscal 2027 was $129.4 million.
  • ✓ Revenue increased 114.7% year over year and 9.6% sequentially.
  • ✓ Credo Technology shares fell despite the company beating Q1 revenue and earnings estimates.
🛡️ Source Corroboration: 14 independent reporting domains (95% confidence) ⏱ Read time: ~2 min

What changed

Credo Technology released its first-quarter fiscal 2027 financial results showing significant year-over-year revenue growth alongside margin pressure.

Live updates

  1. Credo Technology Shares Plunge Despite Q1 Fiscal 2027 Earnings Beat

    Credo Technology Group Holding Ltd shares dropped between 8% and 20% following first-quarter fiscal 2027 results that exceeded revenue and earnings targets. The company reported revenue of $479 million, a 114.7% increase year over year, and GAAP net income of $129.4 million. Despite the growth driven by AI infrastructure demand, investors reacted negatively to margin compression, with gross margins falling to 64.5%. Market reactions varied by source, with some reporting a 19.96% decline on September 2 and others noting an 18% plunge to a trading price of $169.

    Why it matters

    The company provides high-speed connectivity solutions essential for expanding AI infrastructure. This volatility highlights a high investor bar for profitability and margin stability even when top-line growth remains strong.

    What is confirmed

    • Credo Technology Group Holding Ltd reported first-quarter fiscal 2027 revenue of $479 million.
    • The company's GAAP net income for the first quarter of fiscal 2027 was $129.4 million.
    • Revenue increased 114.7% year over year and 9.6% sequentially.
    • Credo Technology shares fell despite the company beating Q1 revenue and earnings estimates.

    Still unconfirmed

    • Wall Street analysts believe the stock could rally 28.17%.

    What to watch next

    • Further clarification on operating expense trends
    • Updated guidance for the remainder of fiscal 2027
    • Recovery or continued decline in share price following margin concerns
    Sources used for this update (14)
    1. Credo Technology Group Holding Ltd - Investor Relations — Credo Technology Group Holding Ltd Reports First Quarter of Fiscal Year 2027 Financial Results
    2. Yahoo Finance — Earnings To Watch: Credo Technology Group Holding Ltd (CRDO) Q1 2027 -- GF Value Sees 64% Upside
    3. Investor's Business Daily — Credo Technology Stock Falls Despite Beating Fiscal Q1 Targets
    4. Seeking Alpha — Credo Technology shares fall as margin pressure overshadows earnings beat (CRDO:NASDAQ)
    5. Quiver Quantitative — Credo Reports $479 Million Revenue and $129.4 Million GAAP Net Income
    6. Barron's — Credo Shares Slump Despite Earnings Beat
    7. tradingview.com — Credo Technology Group Reports Q1 FY2027 Revenue $479.0M, GAAP Net Income $129.4M
    8. Zacks Investment Research — Wall Street Analysts Believe Credo Technology Group (CRDO) Could Rally 28.17%: Here's is How to Trade
    9. pulse2.com — Credo Reports Q1 Fiscal 2027 Revenue Of $479 Million, Up 115% Year Over Year
    10. www.tradingkey.com — Credo Technology Group Holding Ltd Stock (CRDO) Moved Down by 19.96% on Sep 2: What Investors Need To Know
    11. blockonomi.com — Credo Technology (CRDO) Stock Plunges 8% Despite Beating Q1 Earnings Expectations
    12. www.top1markets.com — Why Credo Technology (CRDO) Stock Plunged Despite Strong Earnings Beat? Is It Still A Good Buy?
    confidence 95%
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