Why SolarEdge Technologies Inc.'s Shares Popped 19% Today

Why SolarEdge Technologies Inc.'s Shares Popped 19% Today

Shares of power-optimizer company SolarEdge Technologies Inc. (NASDAQ: SEDG) jumped as much as 18.5% in trading Thursday after releasing third-quarter 2017 results. At 11:15 p.m. EDT shares were still up 16.6% on the day.

Revenue was up 29.6% to $166.6 million and net income jumped 79.1% to $28.0 million, or $0.66 per share on a non-GAAP (generally accepted accounting principles) basis. Analysts were only expecting earnings of $0.55 per share, so the bottom line was a big surprise for investors.

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Source: Fool.com