Credo (CRDO) Soars 12% on Earnings Blowout; Poised to Triple FY26 Revenues

Credo Technology Group Holding Ltd (NASDAQ:CRDO) is one of the Stocks to Watch Right Now.

Credo Technology rallied for a second day on Thursday, jumping 11.90 percent to finish at $114.74 apiece, thanks to a strong earnings performance in the third quarter of the year which raised prospects for revenues to triple in the full fiscal year.

Earlier this week, Credo Technology Group Holding Ltd (NASDAQ:CRDO) said that it grew its net income in the third quarter ending January 31 by 434 percent $157 million from only $29.36 million in the same period a year earlier, as revenues tripled to $407 million from $135 million.

This brought its nine-month net income soaring by 1,843 percent to $303 million from only $15.59 million in the same period a year earlier, while revenues climbed by 237 percent to $898 million from $266.7 million year-on-year.

For the full fiscal year ending April 2026, Credo Technology Group Holding Ltd (NASDAQ:CRDO) is poised to more than triple its revenues to a range of $1.323 billion to $1.333 billion, versus $437 million in fiscal 2025, having issued a fourth-quarter revenue outlook in the range of $425 million to $435 million.

GAAP gross margin for the fourth quarter of the year is also expected to be at 63.9 percent to 65.9 percent, while non-GAAP gross margin is targeted at 64 percent to 66 percent.

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