Earnings Results
Silicon-carbide chip maker’s guidance for fiscal fourth quarter and next fiscal year come in lower than Street expected as new fabrication facility begins shipping product
Wolfspeed Inc., formerly known as Cree, specializes in silicon-carbide chips.
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Wolfspeed Inc. shares declined 8% in after-hours trading Wednesday, as the silicon-carbide chip maker projected disappointing revenue figures for the fiscal fourth quarter and next year.
Executives for Wolfspeed WOLF, which was formerly known as Cree, projected a fiscal fourth-quarter adjusted loss of 17 to 25 cents a share on sales of $212 million to $232 million, while analysts on average were projecting an adjusted loss of 12 cents a share on revenue of $233 million, according to FactSet. For fiscal 2024, Wolfspeed executives…
