What happened Shares of First Solar, Inc. (NASDAQ: FSLR) jumped as much as 10.4% in trading today after the solar manufacturer reported first-quarter earnings. At 11:20 a.m. EDT, the stock had slipped slightly but was up 7.8% on the day. So what Revenue fell 39% from a year ago to $623.3 million, which is primarily due to the fact that First Solar sold fewer solar projects than it did a year ago. What was particularly surprising was the $52.0 million in net income, or $0.64 per share on an adjusted basis, easily surpassing analyst earnings estimates of $0.04 per share. Image source: Getty Images. On top of the earnings beat, management increased 2017 revenue guidance by $150 million to a range of $3.0 billion to $3.1 billion and upped earnings-per-share guidance from an estimated loss of $0.30 to a profit of $0.40 to a new range of $1.55 to $2.20 per share in earnings. Now what A number of factors converged to help First Solar's quarter and 2017 guidance. Solar module demand was much stronger than expected and prices actually rose in the second quarter, which is alleviating some of the margin pressure the industry expected this year. But the big impact is the higher-than-expected sale price of solar projects. That's where most of the increase in revenue comes from, and since it doesn't impact costs, the money flows directly to the bottom line, leading to the large increase in earnings guidance. The solar industry is clearly reaching a point of continued strong fundamentals, and I think the market will only get better in coming years. First Solar's shares are up today, but this is a stock to hold for years to come. 10 stocks we like better than First SolarWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the 10 best stocks for investors to buy right now... and First Solar wasn't one of them! That's right -- they think these 10 stocks are even better buys. Click here to learn about these picks! *Stock Advisor returns as of July 6, 2017Travis Hoium owns shares of First Solar. The Motley Fool recommends First Solar. The Motley Fool has a disclosure policy.