Cree (CREE) Tops Q2 EPS by 10c, Offers Q3 Guidance

(Updated - January 24, 2017 4:35 PM EST. Update corrects to show non-GAAP EPS from continuing operations vs. non-GAAP combined net income per share)

Cree (NASDAQ: CREE) reported Q2 EPS of $0.20, $0.10 better than the analyst estimate of $0.10. Revenue for the quarter came in at $347 million versus the consensus estimate of $325.2 million.

For its third quarter of fiscal 2017 ending March 26, 2017, Cree targets combined revenue, which includes both continuing and discontinued operations, in a range of $340 million to $370 million. Combined GAAP net income is targeted at a $1 million loss to $3 million income, or a $0.01 loss to $0.03 income per diluted share. Combined non-GAAP net income is targeted in a range of $10 million to $18 million, or $0.10 to $0.18 per diluted share

(Street sees Q3 EPS of 7c on revenue of $315.6M)

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

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