Wolfspeed (WOLF) shares dropped nearly 20% in recent Friday premarket activity after the chipmaker reported its fiscal Q3 financial results.
The company reported fiscal Q3 non-GAAP loss Thursday of $0.72 per share, widening from a loss of $0.62 a year earlier.
Analysts polled by FactSet expected $0.82 loss per share.
Net revenue for the quarter ended March 30 was $185.4 million, down from $200.7 million a year earlier.
Analysts surveyed by FactSet expected $185.8 million.
Wolfspeed expects fiscal 2026 revenue of $850 million, Reuters reported Friday. Analysts polled by FactSet expect $922.8 million.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.