Shares of semiconductor company Wolfspeed Inc (NYSE:WOLF) were down in Thursday morning's deal, after last night reporting a wider-than-expected loss in its fiscal fourth quarter.
The company reported an adjusted loss of $0.42 per share, double its loss from a year earlier and compared to expectations of a $0.20 per share loss.
Revenue came in at $235.8 million, up year-over-year from $228.5 million and above expectations of $222.82 million.
Wolfspeed stock fell more than 12% shortly after the bell Wednesday.
Looking ahead, Wolfspeed expects revenue in a range of $220 million to $240 million for the first quarter of fiscal 2024. It projects and adjusted loss between $75 million and $94 million, or $0.60 and $0.75 per share.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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