Benzinga | Jan 27, 2021 04:27PM EST

Cree: Q2 Earnings Insights

Shares of Cree (NASDAQ:CREE) decreased in after-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share fell 140.00% over the past year to ($0.24), which beat the estimate of ($0.25).

Revenue of $127,000,000 declined by 47.06% year over year, which beat the estimate of $121,500,000.

Looking Ahead

Q3 EPS expected to be between ($0.25) and ($0.21).

Q3 revenue expected to be between $127,000,000 and $133,000,000.

How To Listen To The Conference Call

Date: Jan 27, 2021

Time: 05:00 PM

ET Webcast URL: https://edge.media-server.com/mmc/p/xgzgixxp

Recent Stock Performance

Company's 52-week high was at $126.56

52-week low: $27.77

Price action over last quarter: Up 58.87%

Company Description

Cree Inc is a United States-based company which is involved in the manufacturing of wide bandgap semiconductor products for power and radio-frequency (RF) applications, lighting-class light-emitting diode (LED) products, and lighting products. It operates in two reportable segments: Wolfspeed and LED products. The Wolfspeed segment's products consist of silicon carbide and gallium nitride materials, power devices and RF devices based on silicon and wide bandgap semiconductor materials. The LED products segment, which is the key revenue driver, consist of LED chips and LED components. Geographically, the company conducts business in the United States, China, Europe, and other areas.