Wolfspeed Stock Gains 8.8% as EV Revenue Shines

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Wolfspeed Stock Gains 8.8% as EV Revenue Shines

seekingalpha08-22

Wolfspeed shares jumped over 8% premarket on Thursday even as the chipmaker’s fourth quarter results fell short of Wall Street estimates.The Durham, North Carolina company incurred a net loss of $...

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Adjusted diluted loss per share was -$0.89, missing analysts estimates for the quarter.Revenue of $201M was flat sequentially and down around 1% year-over-year. EV revenue emerged as a bright spot, with revenue in the fourth quarter up more than 100% year-over-year. 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