Wolfspeed: Fiscal Q3 Earnings Snapshot
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.