First Solar, Inc. Reports Fall In Q2 Profit, but beats estimates

(RTTNews) - First Solar, Inc. (FSLR) revealed earnings for second quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $55.81 million, or $0.52 per share. This compares with $82.45 million, or $0.77 per share, in last year's second quarter.

Analysts on average had expected the company to earn $0.23 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 1.3% to $620.96 million from $629.18 million last year.

First Solar, Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $55.81 Mln. vs. $82.45 Mln. last year. -EPS (Q2): $0.52 vs. $0.77 last year. -Analyst Estimates: $0.23 -Revenue (Q2): $620.96 Mln vs. $629.18 Mln last year.

-Guidance: Full year EPS guidance: (-$0.25) to $0.25 Full year revenue guidance: $2.55 - $2.8 Bln