SunPower Rockets 17% on Q4 results

SunPower

released its fiscal Q4 earnings results after the closing bell on Thursday. The company reported EPS of $0.16 although it may not compare to Street estimates calling for a loss of $0.05. Revenues for the quarter were $749 million, which was way ahead of Street estimates of $669 million. Looking ahead, SPWR sees Q1 revenue in a range between $500 and $575 million, which compares to current Street estimates of $569.4 million. First-quarter EPS is expected in a range between a loss of $0.05 and a loss of $0.20. Wall Street analysts are currently projecting that SPWR will report a per share loss of $0.12 in the first quarter. In Thursday's after hours trading session, SPWR shares have jumped more than 17% to $8.79 on the back of the strong results.