Credo Reports 114% Revenue Growth Driven by AI Infrastructure

Credo reported first-quarter fiscal 2027 revenue of $479 million, a 114.73% increase that surpassed analyst estimates of $470.38 million. Non-GAAP earnings per share reached $1.20, beating the consensus of $1.1651.

The company attributes this growth to a shift in AI infrastructure spending toward connectivity and wiring for massive clusters, specifically through optical revenue, silicon photonics chips, and optical DSPs. Management expects total fiscal 2027 revenue to grow by more than 85% and provided second-quarter guidance between $525 million and $535 million.

Despite a 17.39% decline in stock price during September, the company anticipates business acceleration in the second half of the fiscal year. However, Credo faces risks related to high customer concentration, with its two largest customers accounting for 61% of first-quarter revenue.