RTTNews | Oct 28, 2021 06:43AM EDT

06:43 Thursday, October 28, 2021 (RTTNews.com) - Daqo New Energy Corp. (DQ) revealed a profit for its third quarter that advanced from the same period last year.

The company's earnings totaled $355.77 million, or $3.81 per share. This compares with $21.90 million, or $0.27 per share, in last year's third quarter.

Excluding items, Daqo New Energy Corp. reported adjusted earnings of $294.69 million or $3.84 per share for the period.

Analysts had expected the company to earn $3.11 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 366.6% to $585.78 million from $125.53 million last year.

Daqo New Energy Corp. earnings at a glance:

-Earnings (Q3): $294.69 Mln. vs. $25.24 Mln. last year.-EPS (Q3): $3.84 vs. $0.33 last year.-Analysts Estimate: $3.11-Revenue (Q3): $585.78 Mln vs. $125.53 Mln last year.

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