NEW YORK ( TheStreet) -- First Solar (FSLR), one of the largest alternative energy developers, has posted a solid first quarter with earnings nearly double what analysts expected and sales closing in on the billion-dollar mark.
Shares are popping in post-market trading, gaining 4.1% to reach $70.20.
Over its March-ending quarter, the Arizona-based business earned $1.10 a share, or $112 million, compared to 69 cents a share, or $61.5 million, a year earlier. Analysts polled by Thomson Reuters forecast earnings of 56 cents a share, or $51.2 million in net income.
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