Wolfspeed Inc. (NYSE:WOLF) stock is trading lower in Thursday’s premarket session after the company reported mixed fourth-quarter results.
Earnings Snapshot
Wolfspeed reported an adjusted loss of $2.26 per share, beating the consensus estimate for a loss of $2.45.
Revenue totaled $149.6 million, missing the $224.48 million Street estimate.
Adjusted gross margin improved 70 basis points sequentially to negative 19.9%. A favorable product mix helped results, including higher AI sales in the Power segment and stronger RF sales in Materials.
