11:53 AM EDT, 05/30/2024 (MT Newswires) -- (Updates with the latest stock movement in the headline and first paragraph.)

Credo Technology Group ( CRDO ) shares were up more than 18% in recent Thursday trading, a day after reporting a fiscal Q4 earnings beat.

The company reported fiscal Q4 non-GAAP earnings Wednesday of $0.07 per diluted share, compared with a loss of $0.04 a year earlier.

Analysts polled by Capital IQ expected earnings of $0.05.

Revenue in the quarter ended April 27 rose to $60.8 million from $32.1 million a year earlier. Analysts polled by Capital IQ expected $60.8 million.

In fiscal Q1, the company expects revenue of $58 million to $61 million. Analysts polled by Capital IQ project $59.1 million.

Price: 23.97, Change: +3.75, Percent Change: +18.55