First Solar, Inc. (NASDAQ:FSLR) stock was soaring on Wednesday following the release of its earnings report for the first quarter of 2017.

During the first quarter of 2017, First Solar, Inc. reported revenue of $891.79 million. This is an increase over its revenue of  $876.07 million that was reported during the same time last year. It also came in above Wall Street’s revenue estimate of $667.80 million for the quarter.

First Solar, Inc. reported earnings per share of 25 cents in the first quarter of the year. This beat out Wall Street’s estimates for the first quarter of 2017, which had the company reporting losses per share of 13 cents.

Operating loss reported by First Solar, Inc. for the first quarter of the year was $7.80 million. The solar energy company reported operating income of $179.92 million during the same period of the year prior.

First Solar, Inc. reported net income of $9.13 million for the first quarter of 2017. This is a decrease over its net income of $ 195.64 million that was reported during the same quarter of the previous year.

First Solar, Inc. has also updated its guidance for 2017 in its most earnings report for the first quarter of the year. It is now expecting revenue to range from $2.85 billion to $2.95 billion. Its old estimate was for revenue between $2.8 billion and $2.9 billion. Wall Street is expecting revenue of $2.78 billion for 2017.

First Solar, Inc. also updated its earnings per share guidance for 2017. It now expects earnings per share to fall between 25 cents and 75 cents. Its previous guidance had earnings per share ranging from flat to 50 cents. Analysts are expecting earnings per share of 32 cents for the year.

FSLR stock was up 16% as of Wednesday morning.