Wolfspeed Stock Sinks After Q2 Earnings: Here's Why

Core Viewpoint - Wolfspeed, Inc. reported disappointing second-quarter earnings following its emergence from Chapter 11 bankruptcy, with significant losses and revenue that fell short of analyst expectations [1][2]. Financial Performance - The company reported a quarterly loss of $5.78 per share, which may not align with estimates due to the application of fresh start accounting after bankruptcy [2]. - Quarterly revenue was $168.5 million, missing the analyst consensus estimate of $170 million [2]. Segment Performance - AI data center revenue experienced a notable growth of approximately 50% quarter-over-quarter, indicating expansion in this segment [2]. Management Commentary - CEO Robert Feurle emphasized the company's commitment to maintaining balance sheet strength and pursuing disruptive innovation following financial restructuring [3]. Stock Performance - Following the earnings report, Wolfspeed's stock fell by 8.98%, closing at $15.72 in extended trading [3].