Credo Technology's first quarter 2027 revenue surged 115% as AI infrastructure demand drove earnings beat

Credo Technology reported first quarter 2027 results that significantly exceeded consensus estimates, driven by aggressive scaling in AI data center interconnects. Non-GAAP diluted EPS of $1.20 beat the $0.91 estimate by 32%, supported by the rapid ramp of high-speed optical transceivers and copper connectivity solutions.

Key Highlights

• Revenue reached $479.0 million, representing 114.7% year-over-year growth, fueled by data center infrastructure scaling.
• Non-GAAP gross margin of 68.0% met analyst expectations exactly, reflecting stable margins during the transition to higher-speed 800G and 1.6T products.
• Second quarter 2027 revenue guidance was set between $525 million and $535 million, projecting continued sequential growth of approximately 10.6% at the midpoint.