First Solar beats analyst expectations, boosts 2010 guidance

Global PV leader First Solar surpassed analyst expectations in the third quarter with sales of $797.9m and net income of $176.9m. The company also increased its forecast for the remainder of the year.

29 October 2010 0:03 GMT Updated 26 September 2016 14:22 GMT

By Benjamin Romano

Earnings per share of $2.04 were the highest recorded since the second quarter of 2009.

A poll of financial analysts by Thomson Reuters put the consensus earnings estimate at $1.95 per share on revenue of $779m.

Arizona-based First Solar’s numbers in the quarter were helped by the completion and sale of the 60MW expansion of the Sarnia project, the world’s largest PV plant, in Ontario, Canada.

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