Wolfspeed Stock Sinks After Mixed Q4 Earnings, Lowered Q1 EPS Guidance
Portfolio Pulse from Ryan Gustafson
Wolfspeed, Inc. (NYSE:WOLF) reported mixed Q4 results and lowered Q1 EPS guidance, causing its shares to trade lower in the after-hours session. The company reported Q4 losses of 42 cents per share, missing the analyst consensus estimate of losses of 20 cents. However, its Q4 sales of $235.8 million beat the analyst consensus estimate of $222.82 million. Wolfspeed anticipates Q1 EPS to be between losses of 75 cents and 60 cents, lower than the Street estimate of losses of 29 cents.
August 16, 2023 | 8:57 pm
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Wolfspeed's Q4 earnings missed estimates and the company lowered its Q1 EPS guidance, leading to a drop in its stock price.
Wolfspeed's Q4 earnings missed analyst estimates and the company issued lower than expected Q1 EPS guidance. This negative financial news is likely to negatively impact investor sentiment and put downward pressure on the stock price in the short term.
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