U.S. Markets open in 2 hrs 51 mins

First Solar: 3Q Earnings Snapshot

TEMPE, Ariz. (AP) _ First Solar Inc. (FSLR) on Thursday reported third-quarter net income of $30.6 million.

The Tempe, Arizona-based company said it had profit of 29 cents per share.

The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.06 per share.

The largest U.S. solar company posted revenue of $546.8 million in the period, also missing Street forecasts. Four analysts surveyed by Zacks expected $990.1 million.

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

First Solar shares have increased 32% since the beginning of the year, while the Standard & Poor's 500 index has climbed 20%. In the final minutes of trading on Thursday, shares hit $55.89, a rise of 32% in the last 12 months.


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