SAN JOSE, Calif. (AP) _ SunPower Corp. (SPWR) on Wednesday reported a loss of $48.4 million in its first quarter.
The San Jose, California-based company said it had a loss of 28 cents per share. Earnings, adjusted for one-time gains and costs, came to 5 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was breakeven on a per-share basis.
The solar products and services company posted revenue of $306.4 million in the period. Its adjusted revenue was $305.8 million, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $305.3 million.
SunPower shares have dropped 10% since the beginning of the year. The stock has more than tripled in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SPWR at https://www.zacks.com/ap/SPWR
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