Trina Solar shares climb after 2Q profit doubles

Shares of Trina Solar Ltd. got a boost Tuesday after the Chinese maker of solar wafers, cells and modules reported sharply higher net income and revenue for the second quarter, surpassing Wall Street's expectations.

THE SPARK: Trina shipped more solar modules during the quarter than it had expected — 223 megawatts, above its expectations of 200 to 205 megawatts. The company's net income doubled to 38.7 million, or 52 cents per share, up from $18.6 million, or 35 cents per share, a year earlier.

Revenue more than doubled to $370.8 million from $150 million. Analysts polled by Thomson Reuters expected earnings of 49 cents per share on revenue of $338.3 million.

Labels: Earnings, solar charts, Solar Stocks, Trina Solar, TSL

posted by Ertai at 6:30 AM