Wolfspeed Reports Mixed Q4 as Revenues Miss Estimate

Benzinga Earnings08-20 04:21

Wolfspeed Inc (NYSE:WOLF) posted mixed fourth-quarter results after Wednesday’s closing bell, missing the Street’s revenue estimate. Here’s a look at the details inside the report. 

  • WOLF stock is moving. Watch the price action here.

Wolfspeed Q4 Details     

Wolfspeed reported a quarterly adjusted loss of $2.26 per share, which beat the consensus estimate for losses of $2.45, according to Benzinga Pro data.

Quarterly revenue came in at $149.6 million, which missed the $224.48 million Street estimate.

“We continued to expand our device business, highlighted by strong growth in AI data center applications and the launch of our fifth-generation SiC MOSFET. These achievements strengthen our technology leadership and confidence in our long-term growth opportunities,” said Wolfspeed CEO Robert Feurle.

Read Also: Short Sellers Are Losing Big on Palantir — Here's the Data

Looking Ahead

Wolfspeed expects first-quarter revenue in a range of $140 million to $160 million, versus the $150.4 million analyst estimate.

WOLF Stock Price Activity: According to data from Benzinga Pro, Wolfspeed stock was down 6.33% to $27.25 in Wednesday’s extended trading.  

Photo: Shutterstock

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment