Credo Technology Shares Surge on Upgraded Revenue Outlook

The company now expects to report revenue between $404 million and $408 million for the fiscal third quarter, according to a preliminary announcement released Monday. This updated range far exceeds the company’s initial guidance of $335 million to $345 million, reflecting strong demand for its high-speed connectivity hardware.

Growth Projections and Market Performance

Management also provided an optimistic outlook for the remainder of the fiscal year. Credo anticipates sequential revenue growth in the mid-single digits for the fourth quarter. If realized, this trajectory would result in threefold year-over-year growth for the current fiscal year.

Investors reacted sharply to the news, pushing the stock to $144.07 before the opening bell. The rally follows a strong performance over the last 12 months, during which the stock had already gained 60%. Credo is scheduled to release its finalized third-quarter financial results on March 2 after the market close.