Canadian Solar's stock surged to a two-year high after beating earnings estimates despite a revenue decline.

Canadian Solar (CSIQ) shares rose sharply on Thursday, jumping to $31.34 after reporting quarterly earnings of $0.58 loss per share, beating estimates by $0.50, and $1.49 billion in revenue, exceeding forecasts of $1.37 billion. Despite a 1.3% year-over-year revenue decline and negative net margin and return on equity, the better-than-expected results fueled investor optimism, driving the stock to a two-year high. The company operates in solar energy and battery storage through its CSI Solar and Recurrent Energy segments, with strong sales in North America and Europe supporting growth. Institutional investors hold 52.36% of the company, and the stock has a market cap of $2.25 billion.