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JASO: JA Solar Stock Lights Up on Earnings Beat

It also topped revenue forecasts


On Thursday, Chinese solar panel maker JA Solar Holdings (JASO) announced a higher-than-anticipated first-quarter profit. The news sent JASO shares up more than 1% in morning trading.

Solar panels
Source: Flickr

JASO shares gained after the company said it earned $13.3 million during the quarter. In the prior-year period, JASO posted a loss. EPS came in at 23 cents, topping the 6 cents that analysts had forecast, the Wall Street Journal noted.

The Sun Is Setting for Chinese Solar Stocks
The Sun Is Setting for Chinese Solar Stocks

JA Solar said that its quarterly shipments had a capacity of 638.1 megawatts. Last month, JASO said that first-quarter shipments would exceed 620 megawatts in capacity.

Quarterly revenue of $366 million was up 36% over the year-ago period, and handily beat the $331 million that analysts had estimated.

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