Credo (CRDO) Jumps 10% on Stellar Earnings

We recently published 10 Stocks Stealing the Spotlight Early as Christmas Looms. Credo Technology Group Holding Ltd (NASDAQ:CRDO) is one of the top performers on Tuesday.

Credo Technology soared by 10.12 percent on Tuesday to close at $188.44 apiece as investors cheered its impressive earnings performance in the second quarter of fiscal year 2026.

In an updated report, Credo Technology Group Holding Ltd (NASDAQ:CRDO) said that it swung to a net income of $82.6 million from a $4.2 million net loss in the same period last year. Revenues jumped by 272 percent to $268 million from $72 million year-on-year, on the back of a 278 percent jump in product sales to $268 million from $72.03 million in the same comparable period.

“In the second quarter Credo delivered revenue of $268 million, an increase of 20 percent sequentially and an extraordinary 272 percent increase year-over-year. These are the strongest quarterly results in Credo’s history, and they reflect the continued build-out of the world’s largest AI training and inference clusters,” said Credo Technology Group Holding Ltd (NASDAQ:CRDO) President and CEO Bill Brennan.

“Looking forward, the combination of continued growth in our core AEC and IC franchises, plus the upcoming ramps of our recently announced ZeroFlap Optics, ALCs, and OmniConnect gearbox solutions, gives us an outlook with strong revenue growth and profitability through fiscal 2026 and beyond,” he added.

For the third quarter of the fiscal year, revenues are expected at $335 million to $345 million.

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READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.