Earnings Results: Wolfspeed whiffs on sales and forecast, and its stock is falling

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Shares of Wolfspeed Inc. fell about 6% in after-hours action Wednesday after the semiconductor company fell short with its revenue and forecast for the current quarter.

The chip company, which focuses on silicon carbide, generated a fiscal second-quarter net loss of $90.9 million, or 73 cents a share, whereas it lost $96.7 million, or 82 cents a share, in the year-earlier period. After adjusting for stock-based compensation, Wolfspeed WOLF lost 11 cents a share, compared with an adjusted loss of 16 cents a share in the year-before…

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