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Credo Technology Holding shares fell despite the company beating fiscal first-quarter revenue and earnings estimates

Credo Technology Holding reported fiscal first-quarter results for the period ended August 1, 2026. The company reported revenue of $479 million, which exceeded both analyst estimates and the company's own forecast. Adjusted earnings were $1.20 per share, surpassing the analyst estimate of $1.17 per share. The company also reported record net income of $236.3 million, representing a 140% increase from the previous year. Despite these positive results, Credo Technology Holding shares fell 8.65% during regular trading. Investors appeared to focus on the company's second-quarter revenue guidance of $525 million to $535 million. While the company beat expectations for the first quarter, the guidance for the second quarter suggested a smaller growth rate than investors had anticipated. CFO Mark Fleming stated that the company expects an inflection point in the second half of fiscal 2027. He noted that the company expects optical revenue to exceed $600 million and total revenue growth of more than 85% for the full year.

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