Wolfspeed’s stock tumbled 9.1% in after-hours trading Wednesday after the silicon carbide chipmaker posted a wider-than-expected adjusted loss and revenue that missed Wall Street estimates.
The company reported an adjusted loss of $2.26 per share for its fiscal fourth quarter, compared with a consensus forecast of a 52-cent loss. Revenue totaled $149.6 million, down 24% from the same period a year earlier and 28% below the expected $223.55 million. Wolfspeed’s stock had already fallen 7.5% during regular trading.
For the current quarter, the company guided revenue between $140 million and $160 million, below prior expectations. The results were released after the market close on Wednesday, with major U.S. indices little changed, suggesting the selloff was driven by company-specific factors rather than broader market conditions.
Wolfspeed cited persistent facility underutilization and negative gross margins as ongoing challenges. Concerns also remain about the pace of its operational turnaround following bankruptcy proceedings. Despite these headwinds, the company highlighted growth in AI data center revenue and new product launches as positive developments.
The earnings miss and weak guidance follow a period of volatility for Wolfspeed, which has faced operational and financial headwinds in recent quarters.
