Wolfspeed Stock Is Falling After The Bell: What’s Going On?
1
0
Wolfspeed Inc (NYSE:WOLF) shares are tumbling in Wednesday’s after-hours session in the wake of the company’s third-quarter financial results. Wolfspeed announced initiatives to streamline its cost structure. Here’s a rundown of the report.
- Q1 Revenue: $194.7 million, versus estimates of $200.39 million
- Q1 Adjusted EPS: Loss of 91 cents, versus estimates for a loss of $1.
“To drive operational improvements, we are taking action to enhance efficiency, align our business with current market conditions and become the first silicon carbide company to transition to pure-play 200-millimeter. The transition to a fully 200-millimeter platform allows us to take further initiatives to streamline our cost structure, including closing our manual Durham 150-millimeter Fab, other manufacturing footprint rationalization, and reducing our …
Full story available on Benzinga.com
Visited 1 times, 1 visit(s) today
Related posts:
- US Stocks Pause As Treasury Yields, Dollar Surge On Trimmed Fed Rate Cut Bets: What’s Driving Markets Tuesday?
- Netflix’s Co-CEO Says ‘Thrilled’ With Password-Sharing Crackdown, Sees Positive Impact On Engagement
- Warren Buffett-Backed BYD’s Sales Executive Warns Tesla Ahead Of Earnings: ‘You’ll Face Serious Challenges’
- Homebuilder Shares Hang In Balance As Credit-Stretched Consumers Await Rate Cuts