ReneSola (NYSE:SOL) announced that it lost $78.6 million, or 91 cents per American depository share for the quarter ended September 30, versus a loss of $8.2 million, or 9 cents per ADS, in the same period a year earlier. Results included a $31.6 million inventory value write down. Revenue increased by 15 percent to $218.2 million from $189.1 million. Analysts had expected a loss of 31 cents per share on $215.8 million in revenue.
Shares are higher by about 8.5 percent.
Rival LDK Solar (NYSE:LDK) will announce earnings on December 3, with analysts expecting a loss of $1.30 per share, versus a loss of 51 cents in the same period last year.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.