Cree (CREE) Tops Q2 EPS by 6c; Guides

Cree (NASDAQ: CREE) reported Q2 EPS of $0.30, $0.06 better than the analyst estimate of $0.24. Revenue for the quarter came in at $436 million versus the consensus estimate of $434.33 million.

GUIDANCE:

Cree sees Q3 2016 EPS of $0.22-$0.29, versus the consensus of $0.23. Cree sees Q3 2016 revenue of $400-430 million, versus the consensus of $431.34 million.

"We delivered on our goal of building financial momentum in Q2, with earnings that exceeded our targets driven by solid revenue growth, good margins and operating expense leverage,” stated Chuck Swoboda, Cree Chairman and CEO. “Our lighting business continues to grow, the LED business has stabilized, and our Wolfspeed Power & RF division continues to make progress. Overall, we had a good first half of fiscal 2016 and are well positioned for a strong second half.”

For earnings history and earnings-related data on Cree (CREE) click here.

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