First Solar earnings, revenue bring upside as stock shoots higher

Shares of First Solar Inc.

were moving more than 6% higher in Thursday’s aftermarket action after the solar-technology company easily cleared expectations with its second-quarter results. The company notched net income of $171 million, or $1.59 a share, compared with net income of $56 million, or 52 cents a share, in the year-earlier period. The FactSet consensus was for $1.00 a share in earnings. Net sales increased to $811 million from $621 million, while analysts were looking for $711 million.

were moving more than 6% higher in Thursday’s aftermarket action after the solar-technology company easily cleared expectations with its second-quarter results. The company notched net income of $171 million, or $1.59 a share, compared with net income of $56 million, or 52 cents a share, in the year-earlier period. The FactSet consensus was for $1.00 a share in earnings. Net sales increased to $811 million from $621 million, while analysts were looking for $711 million.

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