Stock Alert: First Solar Up 17% As Q3 Earnings Beat Estimates

(RTTNews) - First Solar Inc. (FSLR) shares are gaining on Wednesday morning trade as the company reported a surge in third-quarter net profit and that beat estimates.

Currently, the shares are at $97.93, up 17.29 percent from the previous close of $82.39. For the 52-week period, the shares have traded in a range of $28.47 to $96.80 on average volume of 2,246,726.

For the third quarter, the photovoltaic solar energy solutions provider reported net profit of $155.04 million, up from $30.62 million last year. On a per share, the earnings climbed to $1.45 from $0.29 in the prior year. Wall Street analysts were looking for $0.61 per share on revenue of $693.13 million.

Net sales increased to $927.57 million from $546.81 million a year ago. Further, the company reinstated financial guidance for the fourth quarter.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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