Why First Solar Jumped More Than 13% Today
Shares of solar energy company First Solar (NASDAQ: FSLR) rose almost 20% early today, after it reported quarterly earnings late yesterday. Shares retreated some, but still closed up 13% for the day.
The maker of solar panels reported sales that surged compared to both the year-ago period and sequentially from its second quarter.
Sales of $928 million soared 70% versus the 2019 third quarter and were 44% above second-quarter revenue of $642 million. The growth represents a recovery from disruptions related to the coronavirus pandemic, as well as growth in international projects.
Source Fool.com
