Wolfspeed Reports Q1 Fiscal 2027 Results with Revenue Beat and Positive Q2 Outlook
Wolfspeed, Inc. (WOLF) reported first-quarter fiscal 2027 results featuring a revenue beat of $155 million, despite a year-over-year decline of 21.2%. While the company's GAAP earnings per share missed analyst expectations at -$2.61, the market responded positively to the company's forward-looking guidance. For the second quarter of fiscal 2027, Wolfspeed issued revenue guidance between $155 million and $175 million, surpassing consensus estimates. The company also expects sequential non-GAAP gross margin improvements as it moves toward a breakeven point, alongside targeted non-GAAP operating expenses between $65 million and $69 million.
Tickers: $WOLF
Topics: earnings miss financial guidance fiscal results revenue beat