Credo Technology (CRDO) saw its shares drop 12.5% in extended trading on Monday despite reporting strong fiscal third-quarter results that surpassed Wall Street estimates. For the quarter ending January 31, the company earned an adjusted $1.07 per share, with revenue soaring 201.5% year-over-year to $407.01 million, also exceeding forecasts of $0.94 per share and $387.62 million in revenue. This decline in stock price reflects heightened investor expectations in a buoyant AI sector, even as Credo’s guidance for the upcoming quarter predicts revenue between $425 million and $435 million, slightly above analysts’ expectations.
Credo Technology shares fall 12.5% despite topping Q3 estimates
