SUNNYVALE, Calif.—LDK Solar Co. projected third-quarter revenue ahead of Wall Street estimates and lifted its full-year outlook late Monday after reporting its second-quarter profit tripled.
The China-based solar wafer maker said it expects revenue between $486 million and $496 million. It also expects to ship between 210 megawatts and 220 megawatts of wafer shipments in the third quarter.
Analysts polled by Thomson Reuters expect third-quarter revenue of $307.1 million.
The company also lifted its full-year revenue guidance to between $1.65 billion and $1.75 billion. Previously, LDK Solar expected between $1.08 billion and $1.18 billion.
Analysts expect full-year revenue of $1.16 billion, on average.
LDK lifted its wafer shipment projection to between 750 megawatts and 770 megawatts from a previous range of between 560 megawatts and 580 megawatts.
Shares soared $8.59, or 26 percent, to $42.17 in morning trading.
