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Why JA Solar's Shares Plunged 15% Today

TheMotleyFool

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Shares of solar manufacturer JA Solar Holdings Co., Ltd. (NASDAQ: JASO) fell as much as 14.7% in trading Wednesday after the company reported third-quarter earnings. At 1:05 p.m. EST, shares were still trading 13.9% lower on the day.

Shipments of solar modules and cells were 1.64 GW with external shipments rising 30.6% year over year. Revenue was up 4.3% from a year ago to $652.6 million, and gross margin fell 4.3% to 11.8%. As a result of declining margins, net income fell from $6.6 million a year ago to just $6.3 million, or $0.13 per share.

Image source: Getty Images.

Source: Fool.com