Canadian Solar Inc. Reveals Increase In Q2 Profit, Beats estimates

Canadian Solar Inc. (CSIQ) released earnings for its second quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line came in at $74.46 million, or $1.07 per share. This compares with $11.26 million, or $0.18 per share, in last year's second quarter.

Analysts on average had expected the company to earn $0.53 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 61.5% to $2.31 billion from $1.43 billion last year.

Canadian Solar Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $74.46 Mln. vs. $11.26 Mln. last year.
-EPS (Q2): $1.07 vs. $0.18 last year.
-Analyst Estimate: $0.53
-Revenue (Q2): $2.31 Bln vs. $1.43 Bln last year.

Next quarter revenue guidance: $2.0 - $2.1 Bln
Full year revenue guidance: $7.5 - $8.0 Bln

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