NEW YORK (TheStreet) -- Shares of Trina Solar (TSL) are slipping by 1.86% to $8.69 on Thursday morning, even though the Changzhou, China-based company reported better-than-expected results for the 2016 first quarter.
Before today's opening bell, the solar power products company reported earnings of 29 cents per ADS, topping analysts' projections of 22 cents per ADS.
Revenue for the quarter was $816.9 million, beating analysts' estimates of $786.1 million.
Total module shipments jumped 38.7% from last year, driven by demand from the company's key markets in the U.S., China and India.
"During the quarter we continued expanding our overseas manufacturing capacity in select markets to meet global demand, especially from the U.S. and Europe. This capacity expansion strategy ensures we retain and grow our competitive position in the PV industry as we focus on improving our profitability," CEO Jifan Gao said in a statement.