Wolfspeed (NYSE:WOLF) reported its Q3 earnings results on Wednesday, May 4, 2022 at 04:00 PM.
Here's what investors need to know about the announcement.
Earnings
Wolfspeed beat estimated earnings by 14.29%, reporting an EPS of $-0.12 versus an estimate of $-0.14.
Revenue was up $50.70 million from the same period last year.
Past Earnings Performance
Last quarter the company beat on EPS by $0.02 which was followed by a 0.36% drop in the share price the next day.
Here's a look at Wolfspeed's past performance:
| Quarter | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 |
|---|---|---|---|---|
| EPS Estimate | -0.18 | -0.23 | -0.24 | -0.23 |
| EPS Actual | -0.16 | -0.21 | -0.23 | -0.22 |
| Revenue Estimate | 169.30M | 149.17M | 145.17M | 130.21M |
| Revenue Actual | 173.10M | 156.60M | 145.80M | 137.30M |
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
Guidance
Wolfspeed management provided guidance for Q4 2022, expecting earnings between $-0.13 and $-0.07 per share.
To track all earnings releases for Wolfspeed visit their earnings calendar here.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
