First Solar: 2Q Earnings Snapshot

Associated Press
Updated

TEMPE, Ariz. (AP) _ First Solar Inc. (FSLR) on Thursday reported a loss of $18.5 million in its second quarter.

On a per-share basis, the Tempe, Arizona-based company said it had a loss of 18 cents.

The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.

The largest U.S. solar company posted revenue of $585 million in the period, which also fell short of Street forecasts. Four analysts surveyed by Zacks expected $689.4 million.

First Solar expects full-year earnings in the range of $2.25 to $2.75 per share, with revenue in the range of $3.5 billion to $3.7 billion.

First Solar shares have climbed 57% since the beginning of the year, while the Standard & Poor's 500 index has climbed 18%. In the final minutes of trading on Thursday, shares hit $66.83, a rise of 25% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FSLR at https://www.zacks.com/ap/FSLR