Why SunPower Stock Dropped 10.8% on Thursday
Shares of solar energy stock SunPower (NASDAQ: SPWR) fell as much as 10.8% in early trading on Thursday after the company reported third-quarter 2021 financial results. Shares recovered throughout the day, though, and were only down 1.3% at 3:20 p.m. EDT.
Revenue was up 17.8% in the quarter to $323.6 million and the company swung from a net loss of $6.5 million to a profit of $9.8 million, or $0.06 per share. Analysts were expecting earnings of $0.06 per share, but were also expecting $329 million in revenue.
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Source Fool.com
