Recap: Credo Technology Group Q3 Earnings
Portfolio Pulse from Benzinga Insights
Credo Technology Group (NASDAQ:CRDO) reported Q3 earnings with a 33.0% beat on EPS estimates, posting $0.04 versus the expected $0.03. However, revenue declined by $1.21 million from the previous year. Despite beating last quarter's EPS estimate, the share price dropped by 7% the following day. The company has shown varied performance over the past quarters with fluctuations in EPS and revenue.
February 27, 2024 | 9:25 pm
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Credo Technology Group reported a 33% beat on EPS estimates for Q3, with an EPS of $0.04 against an estimate of $0.03, but saw a revenue decline of $1.21 million from the same period last year.
While CRDO's beat on EPS estimates is positive, the decline in revenue and the historical context of a share price drop following last quarter's earnings beat suggest a mixed short-term impact. The positive EPS beat could provide some upward momentum, but the revenue decline and past share price reaction post-earnings indicate potential investor caution.
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