Wolfspeed (WOLF) Reports Loss in Q2 Earnings, Revenues Up Y/Y

Wolfspeed (WOLF) reported a second-quarter fiscal 2024 non-GAAP loss of 55 cents per share, narrower than the Zacks Consensus Estimate of a loss of 63 cents per share but broader than the year-ago quarter’s loss of 11 cents per share.Revenues of $208.4 million increased 20% year over year and beat the consensus mark by 1.19%. Mohawk Valley Fab contributed $12 million in revenues in the reported quarter.Power Products accounted for 51.7%, while Materials Products contributed 48.3%. Power Products revenues in ...