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Why Maxeon's Shares Jumped 32.6% Today

TheMotleyFool

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Why Maxeon's Shares Jumped 32.6% Today: https://g.foolcdn.com/editorial/images/732194/solar-on-roof.jpg

Shares of solar panel manufacturer Maxeon Solar Technologies (NASDAQ: MAXN) jumped as much as 32.6% in trading on Thursday after reporting first-quarter 2023 financial results. Shares were up 32% at 3:20 p.m. ET.

Financial results improved quickly for Maxeon, which said that revenue was $318.3 million in the quarter with net income swinging from a $59.2 million loss a year ago to a $20.4 million profit, or $0.46 per share. Analysts were expecting a loss of $0.51 per share.

Image source: Getty Images.

Source Fool.com