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Wolfspeed Delivers Upbeat Outlook After Q4 Results Top Estimates

By Yasin Ebrahim

Investing.com -- Wolfspeed delivered a better-than-expected outlook after reporting a narrower than expected loss in the fourth quarter as a jump in business wins boosted performance.

Wolfspeed (NYSE:WOLF) rallied more than 16% in afterhours trading.  

The semiconductor products maker reported an adjusted loss of $0.02 a share on revenue of $228.5 million, topping Wall Street estimates for a loss of 10 cents on revenue of $209.3 million.

The beat on the top and bottom lines were helped by a jump in demand, with the company raking in a record of $2.6 billion of design-ins in the fourth quarter.

Looking ahead to the fiscal first quarter, the company forecast a loss of between 2 cents and 8 cents a share on revenue of $232.5 million to $247.5 million, compared with estimates for a loss of 6 cents a share on revenue of $226.3 million.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.