First Solar Rises as Profits Swell Shift to Projects

First Solar Inc. (FSLR) (FSLR), the world’s biggest maker of thin-film panels, rose the most in more than four years after second-quarter earnings rose 81 percent.

First Solar gained 25 percent to $18.50 at 1:27 p.m. in New York. Earlier, it climbed 29 percent to $19.12, the most intraday since February 2008.

First Solar’s profit jumped after making a strategic shift toward building solar farms with its modules. Net income was $111 million, or $1.27 a share, compared with $61.1 million, or 70 cents, a year earlier, the Tempe, Arizona-based company said in a statement yesterday.

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- Posted: 2012-08-02 15:08:36

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