Investing.com - Financial Markets Worldwide
💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

SunPower -3% after missing Q3 revenues, cutting full-year revenue view

Published 11/09/2016, 05:44 PM
SunPower -3% after missing Q3 revenues, cutting full-year revenue view
SPWRQ
-
  • SunPower (NASDAQ:SPWR) -3.1% AH after reported better than expected Q3 earnings but smaller than expected revenues, adding that it will cut costs to meet the current market environment.
  • SPWR expects the cost-cutting measures to improve margins and reduce 2017 annual operating expenses to ~$350M.
  • SPWR says that "while prospects for long-term solar industry growth remain strong, we are seeing a significant near-term market dislocation in the solar market that we expect will impact our financial performance through 2017."
  • The company cuts its full-year revenue forecast to $2.6B-$2.8B from its earlier view of $3B-$3.2B, while expecting to deploy 1.325-1.355 GW vs. its previous forecast of 1.45-1.65 GW.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.