Cree Shares Rise After Earnings Beat

By Markets MarketWatch Pulse

Cree Inc. shares rose in the extended session Thursday after the LED light maker's quarterly results topped Wall Street estimates and gave a mixed outlook. Cree shares rallied 6.6% to $25.90. The company reported adjusted fiscal second-quarter earnings of 30 cents a share on revenue of $435.8 million. Analysts surveyed by FactSet had estimated 24 cents a share on revenue of $434.8 million. Cree said it expects adjusted fiscal third-quarter earnings of 22 cents to 29 cents a share on revenue of $400 million to $430 million. Analysts had forecast 23 cents a share on revenue of $431.8 million.

Continue Reading Below

Copyright © 2016 MarketWatch, Inc.