Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Credo shares surge after 64% jump in revenue, narrowed quarterly loss

Source Investing

Investing.com -- Credo Technology Group Holding Ltd (NASDAQ:CRDO) on Monday reported a 64% surge in second-quarter revenue, driven by robust demand for its connectivity solutions fueled by increasing AI deployments. The company also narrowed its quarterly loss

Credo's shares soared 31% in after-market trading.

The cable maker posted revenue of $72 million for the quarter ended Nov. 2, a substantial year-over-year increase. Its GAAP net loss was trimmed to $0.03 per share, compared to a loss of $0.04 per share in the same period a year earlier.

Credo is projecting third-quarter revenue between $115 million and $125 million, with GAAP gross margin expected to range from 60.6% to 62.6%. The company anticipates operating expenses of $58.6 million to $60.6 million on a GAAP basis.

Shares of the company were up 31% in the aftermarket trading.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Gold Price Forecast: Gold Poised to Break $4,200 as Oil Price Slump Eases Inflation Fears As of the Asian session on July 27, gold prices ( XAUUSD) opened with a strong gap up today and maintained its upward momentum intraday, briefly breaking through $4,100 during the session

Author TradingKey

13 hours ago

As of the Asian session on July 27, gold prices ( XAUUSD) opened with a strong gap up today and maintained its upward momentum intraday, briefly breaking through $4,100 during the session

Middle East War updates: US-Iran pause strikes as Trump weighs up diplomatic options Here’s a brief recap of the key developments in the Middle East war that occurred over the weekend, which are expected to have a significant impact on markets in the upcoming week.

Author FXStreet

20 hours ago

Here’s a brief recap of the key developments in the Middle East war that occurred over the weekend, which are expected to have a significant impact on markets in the upcoming week.

Gold Price Forecast: Oil Price Breaking $100 Fuels Inflation Concerns, Will Gold Prices Fall Further?As of the Asian session on July 24, gold prices ( XAUUSD) fell continuously during intraday trading, briefly approaching the $4,000 mark. Looking at the chart, gold prices rebounded this

Author TradingKey

Jul 24, Fri

As of the Asian session on July 24, gold prices ( XAUUSD) fell continuously during intraday trading, briefly approaching the $4,000 mark. Looking at the chart, gold prices rebounded this

Crude Oil Price Forecast: Middle East Tensions Push Up Oil Prices, Can They Still Rise After Breaking $100? Affected by the continuous escalation of geopolitical tensions in the Middle East, Brent crude ( UKOIL) broke back above the psychological $100-per-barrel threshold after two months, as m

Author TradingKey

Jul 24, Fri

Affected by the continuous escalation of geopolitical tensions in the Middle East, Brent crude ( UKOIL) broke back above the psychological $100-per-barrel threshold after two months, as m

Today’s Market Recap: Oil Breaks $100, Fueling Inflation Fears, as AI Capex Faces Scrutiny and Tesla’s 14% Plunge Drags Down Tech Sector Tracking the Market TrendTradingKey - The market was hit by a double whammy of soaring oil prices and doubts about the return on AI investments sparked by increased capital expenditures at Google(GOOG

Author TradingKey

Jul 24, Fri

Tracking the Market TrendTradingKey - The market was hit by a double whammy of soaring oil prices and doubts about the return on AI investments sparked by increased capital expenditures at Google(GOOG

Popular Symbols