First Solar (FSLR Quick QuoteFSLR - Free Report) reported $548.29 million in revenue for the quarter ended March 2023, representing a year-over-year increase of 49.4%. EPS of $0.40 for the same period compares to -$0.41 a year ago.

The reported revenue represents a surprise of -23.71% over the Zacks Consensus Estimate of $718.69 million. With the consensus EPS estimate being $0.99, the EPS surprise was -59.60%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how First Solar performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Net Sales- Modules: $536.59 million versus $697.84 million estimated by 11 analysts on average.
• Net Sales- Other: $11.70 million versus the seven-analyst average estimate of $23.58 million. The reported number represents a year-over-year change of -3.8%.
• Gross Profit- Modules: $106.89 million compared to the $170.91 million average estimate based on seven analysts.
• Gross Profit- Other: $5.16 million versus $63.15 million estimated by four analysts on average.

View all Key Company Metrics for First Solar here>>>

Shares of First Solar have returned -7.4% over the past month versus the Zacks S&P 500 composite's +2.2% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.