Why Shares of Canadian Solar Inc. Plunged 12% Today

Shares of solar manufacturer Canadian Solar Inc. (NASDAQ: CSIQ) fell as much as 11.5% in trading Thursday after the company reported earnings that fell well short of estimates. At 2:30 p.m. EST, shares were still down 10.7% on the day.

Revenue of $912.2 million was well ahead of $692.4 million for the second quarter of 2017 and an estimate of $818.7 million from analysts. But net of $13.3 million, or $0.22 per share, was four cents below estimates, which shouldn't happen given the huge revenue beat.

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Source: Fool.com