RICHMOND, Calif. (AP) — RICHMOND, Calif. (AP) — SunPower Corp. (SPWR) on Wednesday reported a loss of $50.7 million in its first quarter.
On a per-share basis, the Richmond, California-based company said it had a loss of 29 cents. Losses, adjusted for non-recurring costs and stock option expense, came to 7 cents per share.
The results fell short of Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was breakeven on a per-share basis.
The solar products and services company posted revenue of $440.9 million in the period, which beat Street forecasts. Ten analysts surveyed by Zacks expected $427 million.
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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