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Wolfspeed: Fiscal Q3 Earnings Snapshot

May 4, 2022 GMT

DURHAM, N.C. (AP) _ Wolfspeed, Inc. (WOLF) on Wednesday reported a loss of $66.5 million in its fiscal third quarter.

On a per-share basis, the Durham, North Carolina-based company said it had a loss of 54 cents. Losses, adjusted for one-time gains and costs, were 12 cents per share.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 14 cents per share.

The maker of energy-efficient lighting posted revenue of $188 million in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $190.4 million.

For the current quarter ending in June, Wolfspeed expects its results to range from a loss of 13 cents per share to a loss of 7 cents per share.

The company said it expects revenue in the range of $200 million to $215 million for the fiscal fourth quarter.

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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