LED Lighting company Cree stock tumbles

LED Lighting company Cree stock tumbles

 

cree web logo 4C

First quarter earnings are down, and investors are not happy. Cree reported first quarter earning are down, and revenue is also down. Analysts fear Cree could see more downside in the future. Revenue fell 13% to $371 million. In Cree’s first quarter report Chuck Swoboda, Cree Chairman and CEO. stated “We delivered solid results in fiscal Q1, as Lighting, LED Products and Wolfspeed all achieved revenue and gross margins that were in line with our targets,” “We continue to make progress with our transition to a more focused LED lighting company and building a more valuable business by bringing better light to our customers.”

/ Uncategorized

Share the Post

Comments

No comment yet.

Leave a Reply

Your email address will not be published. Required fields are marked *