DURHAM, N.C. (AP) — DURHAM, N.C. (AP) — Wolfspeed, Inc. (WOLF) on Wednesday reported a loss of $372.2 million in its fiscal second quarter.
On a per-share basis, the Durham, North Carolina-based company said it had a loss of $2.88. Losses, adjusted for one-time gains and costs, came to 95 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of $1.01 per share.
The maker of energy-efficient lighting posted revenue of $180.5 million in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $179.4 million.
For the current quarter ending in March, Wolfspeed expects its results to range from a loss of 88 cents per share to a loss of 76 cents per share.
The company said it expects revenue in the range of $170 million to $200 million for the fiscal third 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
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