by Christopher Freeburn | May 8, 2014 10:23 am
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.
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.
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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