Credo Technology Group Holding Ltd (CRDO) saw its shares tumble 5.19% in after-hours trading on Tuesday, following the company's third quarter fiscal 2025 earnings release.
The plunge appears to be driven by Credo's disappointing revenue guidance for the upcoming fourth quarter. In its earnings report, the semiconductor company projected revenue of $155 million to $165 million for Q4, falling short of analysts' expectations.
Despite reporting record revenue of $135 million for Q3, up 87.4% quarter-over-quarter and 154.4% year-over-year, investors seemed concerned about Credo's future growth prospects. The company's Q4 revenue outlook implies a potential sequential growth of just 14.8% at the midpoint, a significant slowdown from the previous quarter.
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