After reporting a smaller-than-expected net loss and higher-than-expected sales for the quarter ending January 1, shares of Maxeon Solar Technologies (MAXN) jumped nearly 44%.
In contrast to the Consensus Estimate of a loss of $1.25 per share, Maxeon Solar Technologies, Ltd. (MAXN) reported a quarterly loss of $1.84 per share. This contrasts with a loss of $1.81 per share in the prior year. the non-recurring items are accounted for in these numbers.
This quarterly report shows a -47.20% profit surprise. When this business produced a loss of $1.09 per share last quarter instead of the $1.63 expected, it surprised analysts by 33.13%.
Maxeon Solar Technologies, Ltd. reported $323.5 million in revenue for the three months that concluded in December 2022. In contrast, last year’s sales were $221.48 million. Over the past four quarters, the business has three times exceeded consensus revenue estimates.