Wolfspeed's stock gains as company notches smaller loss than expected

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 64 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 29%
  • Publisher: 97%

Deutschland Nachrichten Nachrichten

Deutschland Neuesten Nachrichten,Deutschland Schlagzeilen

Silicon-carbide company also gives a better-than-expected outlook on the bottom line

Wolfspeed Inc. shares rose 8% in after-hours trading Monday after the silicon-carbide company forecast a slimmer-than-expected loss for its ongoing quarter.

The company posted a fiscal first-quarter net loss of $402.7 million, or $3.22 a share, compared with a loss of $26.2 million, or 21 cents a share, in the year-earlier period. On an adjusted basis, Wolfspeed WOLF, -3.41% lost 53 cents a share, whereas it lost 24 cents a share a year before. The FactSet consensus was for a 67-cent loss per share.“As part of expanding its production footprint to support expected growth, Wolfspeed is incurring significant factory start-up costs relating to facilities, the company is constructing or expanding that have not yet started revenue-generating production,” the company said in its release.

Revenue came in at $197.4 million, up from $189.4 million a year prior. Analysts tracked by FactSet were modeling $196.2 million. Looking to the fiscal second quarter, the company models $192 million to $222 million in revenue, where analysts had been looking for $207.1 million. The company also anticipates an adjusted net loss from continuing operations of 56 cents a share to 70 cents a share, whereas the FactSet consensus was for a 69-cent loss per share.“The market opportunity for silicon carbide stands at $6 billion today, up from $400 million just five years ago,” Chief Executive Gregg Lowe said in a release.

 

Vielen Dank für Ihren Kommentar.Ihr Kommentar wird nach Prüfung veröffentlicht.
Wir haben diese Nachrichten zusammengefasst, damit Sie sie schnell lesen können. Wenn Sie sich für die Nachrichten interessieren, können Sie den vollständigen Text hier lesen. Weiterlesen:

 /  🏆 3. in DE

Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Stock Market Today: Dow racks up swashbuckling gains as big tech shows strengthStock Market Today: Dow racks up swashbuckling gains as big tech shows strength
Herkunft: Investingcom - 🏆 450. / 53 Weiterlesen »