(Trina Solar earnings story updated with additional commentary and closing stock prices.)

CHANGZHOU, China ( TheStreet) -- Trina Solar Limited ( TSL) beat quarterly earnings expectations and upped its forecast for solar shipment volume.

Trina Solar said early Tuesday it more than doubled quarterly profits and revenue in its second quarter on record shipment volume, and expects strengthening demand for photovoltaic products to extend into 2011.

"Trina had a good quarter," Wedbush Securities analyst Christine Hersey told TheStreet, commenting on the firm's increased shipment guidance for this year and capacity expansion outlook for next.

Hersey expects a 15% decline in prices next year, which could pressure the margins of some sector players. But she added that Trina will sell more units as well as reduce its costs.

" Trina is the low-cost leader" among sector peers with "the highest gross margin of all silicon module makers," Hersey said. "It has more room to withstand pricing pressure."

American depositary receipts of Trina Solar jumped 5.8% in trading Tuesday, easily outpacing the sector which closed the day mostly in negative territory. Suntech Power Holdings ( STP) and JinkoSolar Holding ( JKS), both also based in China, led the group lower, closing down 5.4% and 5.3%, respectively. Yingli Green Energy Holding ( YGE), another China-based solar company, closed off by 4.4%. First Solar ( FSLR), based in Tempe, Ariz., edged 0.9% lower.

In the second quarter, Trina Solar booked profits of $38.7 million, or 52 cents per American depositary share, compared with year-earlier earnings of $18.9 million, or 71 cents per ADS. Results topped expectations for earnings of 49 cents per ADS.

Net income for the Chinese manufacturer of solar photovoltaic products was negatively impacted by $29.2 million, or 37 cents per ADS, in foreign currency exchange losses. Currency-related losses were primarily due to the depreciation of the Euro against the U.S. dollar in the second quarter.

If you liked this article you might like

How Walmart and Costco Could See a Future Flush With Profits Thanks to an Abundance of Cute Puppies

How to Trade Wednesday's Most Active Stocks -- Citigroup, Trina Solar, GDX and More

Will Tesla's Solar Roof Really Cost Less Than Normal Roof as Musk Claims?

Clouds Blow In Over First Solar, Others as Renewables Retreat After Trump Victory

China's Incentive Cuts Mean The Time to Buy Solar Is Now