First Solar Shares Surge On Surprise Earnings, Outlook

By Wallace Witkowski Markets MarketWatch Pulse

First Solar Inc. shares surged in the extended session Tuesday after the solar-energy-system company reported a surprise profit for the quarter. First Solar shares rose 6.9% to $32.39 after hours, adding to a 2.6% gain in the regular session. The company reported adjusted earnings of 25 cents a share on revenue of $891.8 million. Analysts surveyed by FactSet had forecast a loss of 13 cents a share on revenue of $693 million. First Solar sees full-year adjusted earnings of 25 cents to 75 cents a share on revenue of $2.85 billion to $2.95 billion. Analysts had estimated 30 cents a share on revenue of $2.8 billion.

Continue Reading Below

Copyright © 2017 MarketWatch, Inc.