Credo Technology Stock Soars on Record Revenue and Strong AI Demand

The company's Q2 earnings and revenue exceeded expectations, driven by surging AI deployments and robust customer demand.

Credo Technology reported Q2 fiscal 2025 revenue of $72 million, a 64% year-over-year increase, surpassing the consensus estimate of $66.789 million.
Adjusted earnings per share came in at $0.07, beating analyst expectations of $0.05 by 40%.
The company projected Q3 revenue between $115 million and $125 million, significantly above market estimates of $86.042 million.
CEO Bill Brennan highlighted accelerating AI deployments and deepening customer relationships as key drivers of the company's growth.
Analysts from major firms raised their price targets for Credo, with some increasing targets to as high as $80, as the stock surged nearly 47% to an all-time high.