SunPower, Silicon Valley's dominant solar panel manufacturer, reported stronger revenue and a narrower first-quarter loss Thursday in a better-than-expected earnings report that caused its stock to surge.
SunPower shares spiked in the last minutes before the markets closed after part of the company's presentation to analysts appeared online earlier than expected. Shares jumped more than 17 percent to close at $15.29.
The company brought in first-quarter revenue of $635 million, a 29 percent increase from the first quarter last year, thanks to growth in the Americas and Asia. It was the best first quarter since 2008, and the best quarter in general in five years."It was one of the strongest first quarters we've ever had," CEO Tom Werner said in an interview following the earnings call.