Wolfspeed's (NYSE: WOLF) stock price surged 32% on Aug. 18 after the semiconductor company posted its fourth-quarter earnings report. Its revenue rose 57% year over year to $228.5 million, which beat analysts' estimates by $20.9 million. Its adjusted net loss narrowed from $26.9 million to $2.9 million, or $0.02 per share, which also cleared the consensus forecast by eight cents.
For the first quarter of fiscal 2023, which started at the end of June, Wolfspeed expects its revenue to grow another 48%-58% year over year, with an adjusted net loss of $0.02 to $0.08 per share. Analysts had anticipated 48% revenue growth with an adjusted net loss of $0.06 per share.
Image source: Getty Images.
Source Fool.com