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First Solar beats Street 3Q forecasts

TEMPE, Ariz. (AP) _ First Solar Inc. (FSLR) on Thursday reported third-quarter earnings of $205.7 million.

The Tempe, Arizona-based company said it had profit of $1.95 per share.

The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 85 cents per share.

The largest U.S. solar company posted revenue of $1.09 billion in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $824.2 million.

First Solar expects full-year earnings in the range of $2.40 to $2.60 per share, with revenue in the range of $3 billion to $3.1 billion.

First Solar shares have increased 49 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 14 percent. In the final minutes of trading on Thursday, shares hit $47.92, a rise of 17 percent 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


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