Wolfspeed: Fiscal Q3 Earnings Snapshot

DURHAM, N.C. (AP) — DURHAM, N.C. (AP) — Wolfspeed, Inc. (WOLF) on Wednesday reported a loss of $148.9 million in its fiscal third quarter.

The Durham, North Carolina-based company said it had a loss of $1.18 per share. Losses, adjusted for pretax expenses and stock option expense, were 62 cents per share.

The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 64 cents per share.

The maker of energy-efficient lighting posted revenue of $200.7 million in the period, which missed Street forecasts. Seven analysts surveyed by Zacks expected $201.5 million.

For the current quarter ending in June, Wolfspeed expects its results to range from a loss of 86 cents per share to a loss of 72 cents per share.

The company said it expects revenue in the range of $185 million to $215 million for the fiscal fourth quarter.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WOLF at https://www.zacks.com/ap/WOLF

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