Shares of Wolfspeed Inc. (WOLF) were up 6.6% in extended trading Wednesday after the semiconductor company beat Wall Street's revenue expectations in its fiscal second-quarter results.
Revenue was $180.5 million, down from $208.4 million in the prior year's quarter, but above the FactSet consensus of $179.9 million. Wolfspeed reported a net loss of $372.2 million, or $2.88 a share, after a net loss of $144.7 million, or $1.15 a share, in the same period last year. On an adjusted basis, Wolfspeed lost 95 cents a share. Analysts surveyed by FactSet were looking for a loss of $1.02 a share.
(This is a developing news story with updates to come.)
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January 29, 2025 16:39 ET (21:39 GMT)
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