First Solar Slashes Revenue Expectations By $1 Billion As Demand For Solar In China Slows

First Solar Slashes Revenue Expectations By $1 Billion As Demand For Solar In China Slows

First Solar, the world’s largest manufacturer of thin-film cadmium telluride (CdTe) modules and utility-scale solar solutions provider, reported net income of $1.49 per share for the third quarter, beating analysts’ bottom line expectations. Sales, however, fell 45.9% to $688 million, and CEO Mark R. Widmar officially slashed sales guidance for 2016 to $2.8-$2.9 billion from $3.8-$4 billion, due to the timing of certain utility-scale solar project sales. Read more…

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