NEW YORK ( TheStreet) -- JA Solar ( JASO) reported earnings early on Tuesday morning that surpassed Street expectations and raised guidance for the full year. JA Solar, the world's largest maker of solar cells, reported earnings per share of 47 cents and revenue of $541 million. The Street had been looking for earnings of 34 cents on revenue of $453 million from JA Solar. For the full year, JA Solar is raising shipment guidance from 1.35 gigawatts to 1.45 GW. JA Solar also stated that supply agreements signed with multiple customers for 2011 exceed 1.2 GW, and that the company has received prepayments associated with these supply agreements. JA Solar shares were up by close to 7% in the pre-market trading on Tuesday morning. LDK Solar ( LDK), which reported after the market close on Monday, is up 9% in the pre-market on Tuesday. However, investors have been fickle about adding more money to solar even on beat-and-raise quarters. The JA Solar earnings are out in tandem with earnings from Chinese solar module player Solarfun Power ( SOLF) and some solar watchers were hopeful that the spate of earnings might lead to a rally that has so far not occurred as a result of strong earnings numbers and revised guidance. Instead, JA Solar and Solarfun on moving in opposite directions on Tuesday morning. Solarfun shares weren't seeing the bump afforded shares of LDK and JA Solar. The Chinese module maker beat and raised, reporting earnings of 69 cents on revenue of $326 million. The Street was looking for earnings of 49 cents on revenue of $287 million. There was one surprise in the Solarfun Power report, though, with the company saying that module shipments would decline in the fourth quarter. Solarfun expects total module shipments to be 205 MW to 215 MW, of which about 25% to 30% will be for PV module processing services. The solar company stated in its earnings that it is converting some of its existing cell lines into high-efficiency cell capacity with the installation of selective emitter technology, resulting in temporary loss of internal cell capacity in the fourth quarter. Solarfun is making the move to ultimately lower the cost of buying external cells. However, it was the only Chinese solar company reporting in the last 24 hours that was down in pre-market trading, by 3%. -- Written by Eric Rosenbaum in New York.
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