Recap: Wolfspeed Q3 Earnings

Wolfspeed 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.

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.

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).

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.

Earnings Calendar