Q2 26 EPS
$0.67
BEAT +35.27%
Est. $0.50
Q2 26 Revenue
$268.0M
BEAT +14.06%
Est. $235.0M
vs S&P Since Q2 26
+16.3%
BEATING MARKET
CRDO +25.0% vs S&P +8.7%
Market Reaction
Did CRDO Beat Earnings? Q2 2026 Results
Credo Technology Group delivered a blowout fiscal second quarter, posting non-GAAP earnings of $0.67 per diluted share against a consensus estimate of $0.50, a beat of 35.27% that extended the company's streak of exceeding EPS expectations to five co… Read more Credo Technology Group delivered a blowout fiscal second quarter, posting non-GAAP earnings of $0.67 per diluted share against a consensus estimate of $0.50, a beat of 35.27% that extended the company's streak of exceeding EPS expectations to five consecutive quarters. Revenue came in at $268.03 million, topping estimates by 14.06% and representing a staggering 272.1% year-over-year jump, powered almost entirely by product sales of $261.29 million as hyperscalers raced to build out AI training and inference clusters. GAAP operating income swung to $78.80 million from a loss of $8.41 million a year ago, while non-GAAP operating margin reached 46.3%, underscoring how rapidly Credo's high-speed connectivity solutions have scaled. Looking ahead, management guided Q3 FY2026 revenue to $335 million to $345 million, implying roughly 25-29% sequential growth, though non-GAAP gross margins are expected to compress to 64%-66% as newer product lines including ZeroFlap Optics and Active Line Cards begin ramping alongside the core AEC and IC franchises.
Key Takeaways
- • Continued build-out of world's largest AI training and inference clusters
- • 272% year-over-year revenue growth driven by surging demand for AEC and IC products
- • Strong non-GAAP operating margin expansion to 46.3%
- • Product sales revenue grew 278% year over year
CRDO YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
CRDO Revenue by Segment
With YoY comparisons, source: SEC Filings
“In the second quarter Credo delivered revenue of $268.0 million, an increase of 20% sequentially and an extraordinary 272% increase year-over-year. These are the strongest quarterly results in Credo's history, and they reflect the continued build-out of the world's largest AI training and inference clusters.”
— Bill Brennan, Q2 2026 Earnings Press Release
CRDO Earnings Trends
CRDO vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
CRDO EPS Trend
Earnings per share: estimate vs actual
CRDO Revenue Trend
Quarterly revenue: estimate vs actual
CRDO Quarterly Results
8 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 26 BEAT FY | $1.03 | $1.16 | +12.17% | $437.0M | +0.86% |
| FY Full Year | $3.31 | $3.46 | +4.45% | $1.34B | +0.25% |
| Q3 26 BEAT | $0.94 | $1.07 | +13.75% | $407.0M | +5.00% |
| Q2 26 BEAT | $0.50 | $0.67 | +35.27% | $268.0M | +14.06% |
| Q1 26 BEAT | $0.36 | $0.52 | +44.20% | $223.1M | +17.02% |
| Q4 25 BEAT FY | $0.27 | $0.35 | +27.88% | $170.0M | +6.54% |
| FY Full Year | $0.63 | $0.70 | +10.78% | $436.8M | +2.42% |
| Q3 25 BEAT | $0.18 | $0.25 | +36.54% | $135.0M | +12.17% |
| Q2 25 BEAT | $0.05 | $0.07 | +37.25% | $72.0M | +7.82% |
| Q1 25 BEAT | $0.04 | $0.04 | +0.00% | $59.7M | +0.29% |