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SolarEdge: 2Q Earnings Snapshot

HERZILIYA PITUACH, Israel (AP) _ SolarEdge Technologies Inc. (SEDG) on Tuesday reported second-quarter earnings of $33.1 million.

The Herziliya Pituach, Israel-based company said it had profit of 66 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, came to 94 cents per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 86 cents per share.

The photovoltaic products maker posted revenue of $325 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $314.7 million.

For the current quarter ending in October, SolarEdge said it expects revenue in the range of $395 million to $410 million.

SolarEdge shares have climbed 83% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $64.18, an increase of 29% in the last 12 months.


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