TEMPE, Ariz. (AP) _ First Solar Inc. (FSLR) on Thursday reported first-quarter net income of $90.7 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Tempe, Arizona-based company said it had net income of 85 cents.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 24 cents per share.

The largest U.S. solar company posted revenue of $532.1 million in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $556.5 million.

First Solar shares have declined 20% since the beginning of the year, while the Standard & Poor's 500 index has decreased 11%. In the final minutes of trading on Thursday, shares hit $44.66, a drop of 28% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FSLR at https://www.zacks.com/ap/FSLR

Automated Insights, source Associated Press News