Wolfspeed issues disappointing revenue guidance.

Wolfspeed, Inc. (NYSE: WOLF) shares experienced a 4.73% after-hours drop following the release of its second-quarter earnings, in which the company reported a 55 cents per share loss that exceeded the analyst consensus estimate of a 66 cents per share loss. It also reported revenue of $208.4 million that outperformed the estimated $206.36 million but showed a small decrease from the $216.1 million of the previous year. Despite this, Wolfspeed achieved a record of $2.9 billion in quarterly design wins, mainly in the electric vehicle sector.

January 31, 2024
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