Wolfspeed Q4 Adj $(0.42) Misses $(0.20) Estimate, Sales $235.80M Beat $222.82M Estimate
Portfolio Pulse from Benzinga Newsdesk
Wolfspeed (NYSE:WOLF) reported Q4 losses of $(0.42) per share, missing the analyst consensus estimate of $(0.20) by 110%. This is a 2000% decrease over losses of $(0.02) per share from the same period last year. However, the company reported quarterly sales of $235.80 million, beating the analyst consensus estimate of $222.82 million by 5.83%. This is a 3.19% increase over sales of $228.50 million the same period last year.
August 16, 2023 | 8:16 pm
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Wolfspeed's Q4 earnings missed estimates significantly, but sales beat expectations. This mixed result could lead to uncertainty in the market.
Wolfspeed's Q4 earnings report is a mixed bag, with a significant miss on earnings per share but a beat on sales. This could lead to uncertainty in the market as investors weigh the negative earnings result against the positive sales performance. The impact on the stock price could go either way in the short term.
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