Why SolarEdge Technologies Stock Plunged 15.7% Today
Shares of solar energy company SolarEdge Technologies Inc (NASDAQ: SEDG) fell as much as 15.7% in trading Tuesday after reporting first-quarter 2020 financial results. At 2:30 p.m. EDT, shares were still down 15% for the day.
Revenue fell 6% versus a year ago to $405.5 million, and net income dropped from $42.2 million to $30.1 million, or $0.55 per share. On a non-GAAP basis, earnings were $0.98 per share. Results actually topped the $396.2 million in revenue that analysts expected and fell just $0.01 shy of earnings estimates.
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Source Fool.com
