Cree Inc. shares jumped in after-hours trading Tuesday following a fiscal third-quarter earnings report that beat expectations. Cree reported a loss of $241 million, or $2.40 a share, due to a $247.5 million impairment charge attributable to the company's lighting-products division; after adjusting for that and other factors, the company claimed earnings of 4 cents a share, up from adjusted earnings of a penny a share a year ago. The chip and lighting company reported revenue of $356 million, up from $342 million a year ago. Analysts on average expected a break-even quarter on an adjusted basis with $348 million in sales, according to FactSet. The company's forecast also beat expectations, with a call for revenue of $390 million to $410 million; analysts on average were projecting revenue of $375 million. Cree stock added 7% in late trading immediately following the report, after closing the regular session with a 2.5% decline at $39.36. Cree stock has gained 5.9% so far this year, while the S&P 500 index has fallen 0.1%.