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Enphase Energy: 3Q Earnings Snapshot

·1 min read

FREMONT, Calif. (AP) _ Enphase Energy Inc. (ENPH) on Tuesday reported third-quarter net income of $39.4 million.

The Fremont, California-based company said it had profit of 28 cents per share. Earnings, adjusted for one-time gains and costs, were 30 cents per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 24 cents per share.

The solar technology company posted revenue of $178.5 million in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $169.8 million.

For the current quarter ending in December, Enphase Energy said it expects revenue in the range of $245 million to $260 million.

Enphase Energy shares have more than tripled since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $98.63, nearly quadrupling in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ENPH at https://www.zacks.com/ap/ENPH