STOCKS | Credo Revenue Jumps 114.7% in Q1 as AEC Remains Growth Driver

Credo Technology Group Holding reported first-quarter fiscal 2027 revenue of $479.0 million, up 114.7% year over year and 9.6% sequentially. According to Sina Finance, the company said second-quarter revenue is expected to rise to $525 million to $535 million. Credo said non-GAAP diluted earnings per share came in at $1.20, above analysts' estimate of about $1.17, while revenue also topped the consensus forecast of about $473.3 million. The company said more than 90% of the quarter's revenue increase came from active electrical cables, or AEC, shipments driven by hyperscale data center demand. The company said its first-quarter GAAP gross margin was 64.5%, while non-GAAP gross margin was 68.0%. Credo also said it had cash and short-term investments of about $764.3 million at quarter-end, and inventory rose to $313.1 million.