Why Shares of First Solar, Inc. Popped 10% Today

Shares of First Solar, Inc. (NASDAQ: FSLR) jumped as much as 10.4% in trading today after the solar manufacturer reported first-quarter earnings. At 11:20 a.m. EDT, the stock had slipped slightly but was up 7.8% on the day.

Revenue fell 39% from a year ago to $623.3 million, which is primarily due to the fact that First Solar sold fewer solar projects than it did a year ago. What was particularly surprising was the $52.0 million in net income, or $0.64 per share on an adjusted basis, easily surpassing analyst earnings estimates of $0.04 per share.

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Source: Fool.com