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Credo Technologies (NASDAQ: CRDO) reported its fiscal year 2026 Q2 results, achieving $268.03 million in net revenue, a 20% sequential increase and a 272% year-over-year growth. The company surpassed analyst expectations for both revenue and earnings, with adjusted earnings reaching 67 cents, exceeding consensus by 3,400 basis points.
For Q3, Credo forecasts revenue of $340 million, representing a 26% sequential gain and a 150% year-over-year increase, also 50% above analyst projections. The company’s adjusted gross margin stood at 67.7%, and it has seen a 100% year-to-date growth in equity, indicating strong financial health.
With more than 80% of its stock owned by institutional investors, Credo has garnered significant market support, reflected in a recent stock price surge, reaching new highs. Analysts have raised their price targets, with projections suggesting a potential 40% upside from pre-earnings valuations.
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