First Solar ended the third quarter with revenues at $348.7 million, up from $267 million in the second quarter. This strong showing puts First Solar in a better position than many other solar companies: In general, solar stocks have been dropping since this summer.

"Earnings were very strong," Pacific Crest analyst Mark Bachman told Investors.com. "I think First Solar is going to be able to weather whatever comes their way better than their peers."

First Solar also announced yesterday that the company will move into the residential market. It has focused primarily on large-scale projects in Europe, along with a joint project with Southern California Edison. To work in the U.S. residential solar market, First Solar is teaming with SolarCity, which is already well-established on the West Coast, with about 2,000 solar power systems leased to users in California and Oregon. It has been planning a number of East Coast projects for next year.

With all the good news about First Solar, its share prices went up more than 15 percent over the course of the day yesterday.

Image — First Solar