Wolfspeed: Fiscal Q1 Earnings Snapshot

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DURHAM, N.C. (AP) — DURHAM, N.C. (AP) — Wolfspeed, Inc. (WOLF) on Wednesday reported a loss of $282.2 million in its fiscal first quarter.

The Durham, North Carolina-based company said it had a loss of $2.23 per share. Losses, adjusted for restructuring costs and pretax expenses, were 91 cents per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of $1.01 per share.

The maker of energy-efficient lighting posted revenue of $194.7 million in the period, falling short of Street forecasts. Seven analysts surveyed by Zacks expected $200.1 million.

For the current quarter ending in December, Wolfspeed expects its results to range from a loss of $1.14 per share to a loss of 89 cents per share.

The company said it expects revenue in the range of $160 million to $200 million for the fiscal second quarter.

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This story was generated by Automated Insights (https://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WOLF at https://www.zacks.com/ap/WOLF