Cree (NASDAQ: CREE) stock is tumbling, getting pummeled 8.2% (as of 1:40 p.m. EST) after the company reported a bit of a sales beat last night...but an earnings miss, and a warning of worse earnings to come.
Yesterday after close of trading, Cree reported fiscal second-quarter 2020 sales of $239.9 million, or $3.5 million more than Wall Street analysts had predicted. Profits, however, went missing, with Cree reporting an "adjusted" loss of $0.10 per share, versus the expected $0.09 per-share loss.
Image source: Getty Images.
Source Fool.com