Credo Stock Slips After Q3 Results

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) shares dropped in Monday's extended trading after the company released its third-quarter earnings report.  

Here's a look at the key figures from the quarter. 

• CRDO stock is moving.

The Details: Credo Technology reported quarterly adjusted earnings of $1.07 per share, which beat the 95 cent consensus estimate, according to Benzinga Pro data.

Quarterly revenue came in at $407.01 million, which beat the $400.23 million Street estimate.

“In the third quarter, Credo once again delivered record results with revenue of $407 million, an increase of more than 50% sequentially and 200% year over year,” CEO Bill Brennan said.

Outlook: Credo expects fourth quarter revenue in a range of $425 million to $435 million, versus the $422.61 million analyst estimate.

CRDO Stock Price: According to data from Benzinga Pro, Credo Technology stock fell 8.16% to $104.90 in Monday's extended trading.  

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