First Solar edges higher after beating sales expectations, falling short on earnings
Solar panel seller First Solar rose slightly in after-hours trading after posting a mixed earnings report.
First Solar reported earnings per share of $3.65, under the $4.63 analysts polled by FactSet were expecting. Net income for the quarter was $393 million, under the $509 million the Street had forecast.
But even with the profit miss, its $1.5 billion of sales topped the $1.4 billion analysts were calling for. The top line was driven by an uptick in sales of solar panels to third parties. The company has increasingly pivoted to those kinds of sales versus complete solar power systems.