SunPower third-quarter profit tops estimates

Reuters

LOS ANGELES, Oct 30 (Reuters) - SunPower Corp onWednesday reported a quarterly profit that soared pastexpectations thanks to stable prices and strong demand for itssolar panels and projects in the United States and an improvingmarket in Europe.

Net income was $108.4 million, or 73 cents per share,compared with a net loss of $48.5 million, or 41 cents pershare, a year ago.

Excluding items, the company earned 44 cents per share. Onthat basis, analysts had been expecting earnings of 25 cents ashare, according to Thomson Reuters I/B/E/S. SunPower in Julyhad forecast income of 15 cents to 35 cents a share.

SunPower is majority owned by France's Total SA.

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