Why Shares of SolarEdge Technologies Plunged 16.5% Today
Shares of SolarEdge Technologies (NASDAQ: SEDG) fell as much as 16.5% on Thursday after the company announced first-quarter results. Shares were trading sharply lower all day and were still down 12.8% at 3:30 p.m. EDT.
Quarterly revenue was up 59% versus a year ago to $431.2 million, but non-GAAP net income increased 54% to $50.7 million, or $0.95 per share. Analysts were expecting revenue of $420.4 million and earnings of $1.25 per share in the quarter.
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Source Fool.com
