OTTAWA (dpa-AFX) - Canadian Solar Inc. (CSIQ) revealed earnings for its first quarter that increased from the same period last year and beat the Street estimates.
The company's earnings totaled $83.71 million, or $1.19 per share. This compares with $9.21 million, or $0.14 per share, in last year's first quarter.
Analysts on average had expected the company to earn $0.61 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 36.0% to $1.70 billion from $1.25 billion last year.
Canadian Solar Inc. earnings at a glance (GAAP) :
-Earnings (Q1): $83.71 Mln. vs. $9.21 Mln. last year. -EPS (Q1): $1.19 vs. $0.14 last year. -Analyst Estimate: $0.61 -Revenue (Q1): $1.70 Bln vs. $1.25 Bln last year.
-Guidance: Next quarter revenue guidance: $2.4 - $2.6 Bln Full year revenue guidance: $9.0 - $9.5 Bln
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