Wolfspeed (WOLF) shares dropped nearly 20% in recent Friday premarket activity after the chipmaker reported its fiscal Q3 financial results.
The company reported fiscal Q3 non-GAAP loss Thursday of $0.72 per share, widening from a loss of $0.62 a year earlier.
Analysts polled by FactSet expected $0.82 loss per share.
Net revenue for the quarter ended March 30 was $185.4 million, down from $200.7 million a year earlier.
Analysts surveyed by FactSet expected $185.8 million.
Wolfspeed expects fiscal 2026 revenue of $850 million, Reuters reported Friday. Analysts polled by FactSet expect $922.8 million.
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