🔴 Wolfspeed is trading 9.59% down in pre-market after $2.26 loss and revenue miss

Wolfspeed is trading 9.59% down in pre-market at $26.30 after its August 19 earnings report showed a wider-than-expected non-GAAP loss and revenue miss.

• Non-GAAP loss was $2.26 per share versus $0.52 expected; revenue was $149.6 million versus $223.55 million consensus.
• Management guided first-quarter fiscal 2027 revenue to $140 million-$160 million and forecast continued negative gross margins.
• AI data-center revenue more than doubled year over year, but profitability concerns remain.