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.
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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.
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.
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