Overview
- Credo reported Q2 revenue of $268.03 million, up 272% year over year, with adjusted EPS of $0.67 that topped consensus.
- Net income swung to roughly $82.6 million from a loss a year earlier, reflecting stronger margins and scale.
- Management projected Q3 revenue of $335 million to $345 million, far ahead of prior estimates.
- Executives said hyperscalers drove the surge, with four customers each contributing more than 10% of Q2 revenue and a fifth beginning to contribute.
- Credo announced a patent licensing deal with The Siemon Company for active electrical cable technology, while shares jumped double digits and analysts raised price targets to as high as $240–$250.