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Wolfspeed, Twilio Active After Earnings

Sharp moves seen in after-hours trading for company formerly known as Cree and software and services provider Twilio.
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Shares of Wolfspeed  (WOLF) and Twilio  (TWLO) - Get Twilio, Inc. Class A Report were active in after-hours trading Wednesday in the wake of financial results from the companies.

Wolfspeed

Wolfspeed, formerly known as Cree, saw shares rise after it reported a narrower loss and said that 2002 fiscal first-quarter revenue rose 36% to $156.6 million from the same period a year earlier.

The company posted a non-GAAP loss from continuing operations of $23.8 million, or 21 cents a share vs. a loss of $26.5 million, or 24 cents a share in the same period a year ago.

Shares of Wolfspeed rose $13.92, or 15%, to $104.79 in after-hours trading.

Twilio

Twilio shares fell after the company posted a smaller profit for its latest quarter, forecasted a loss in the fourth quarter and said its chief operating officer is leaving.

The company reported non-GAAP net income per share attributable to common stockholders of one penny vs. 4 cents in the year ago period. Revenue rose 65% to $740.2 million including contributions from two recent acquisitions.

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Twilio forecast a fourth quarter non-GAAP loss per share of 23 cents to 26 cents.

It also said its chief operating officer, George Hu, has resigned.

Shares of Twilio fell $43.66, or 13%, to $302.00 in after-hours trading.

In the broader markets, stocks ended generally lower Wednesday after a late session selloff.

The Dow fell 0.7% to 35,491, while the S&P 500 ended off 0.5% at 4,552.

The Nasdaq Composite index eked out a tiny gain, ending the day up 0.12 points at 15,235.84.