Wolfspeed, Inc. (NYSE:WOLF) shares dropped in Wednesday's extended trading after the company released its second-quarter earnings report, the first since emerging from Chapter 11 bankruptcy.
Here's a look at the key figures from the quarter.
The Details: Wolfspeed reported quarterly losses of $5.78 per share, which may not compare to estimates due to the company’s application of fresh start accounting upon emergence from Chapter 11 bankruptcy.
Quarterly revenue came in at $168.5 million, which missed the analyst consensus estimate of $170 million.
AI data center revenue grew approximately 50% quarter-over-quarter, reflecting an expansion in the segment.
“With a stronger capital structure following our financial restructuring, we are operating with discipline to maintain balance sheet strength while upholding our commitment to disruptive innovation,” said Wolfspeed CEO Robert Feurle.
WOLF Stock Price: According to data from Benzinga Pro, Wolfspeed stock fell 8.98% to $15.72 in Wednesday's extended trading.
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