- Credo Technology Group (CRDO) rises 33.35%, trading above $63.70 in extended trading.
- The company posted revenue of $72 million, higher than the $67.15 million projected by analysts.
Credo Technology Group shares set a day’s high of $49.74, finding sellers that took the share price to a day’s low of $47.49. At the time of writing, CRDO is trading at $64.00 during extended hours.
Credo Technology Group beats analyst estimates and increases its projections for 2025
The company specialized in offering connectivity solutions, Credo Technology Group (CRDO), published its quarterly report today, at the close of the market. CRDO obtained revenues of 72 million dollars, above the 67.15 million estimated by the market. Likewise, it reported earnings per share of $0.07, up from $0.05.
The company has raised its projections for the next quarter, as it foresees revenue between 115 to 125 million dollars compared to the consensus of 86 million dollars.
CRDO Technical Levels
CRDO reacted higher on short-term support, given by the November 27 low at $44.83. The next key support level is seen at $39.19, the pivot point of November 15. To the upside, we expect profit taking in the $75.00 area, in confluence with the 2.618 Fibonacci extension.
Credo Technology Group 3-hour chart
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
