FirstSolar Stock Plunges 12% — Why Such A Selloff?

The company reported fourth quarter net income per diluted share of $4.84, which was well below analysts’ estimates of $5.24 per share, according to data from fiscal.ai.

Shares of FirstSolar (FSLR) plummeted more than 12% in extended hours of trading on Tuesday as it posted lower than expected fourth quarter profit. 

The company reported fourth quarter net income per diluted share of $4.84, which was well below analysts’ estimates of $5.24 per share, according to data from fiscal.ai.

Net sales for the fourth quarter were $1.7 billion, a 12.6% rise from the prior year’s same quarter. The increase was primarily driven by an increase in the volume of modules sold in the fourth quarter.

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