Investing.com UK - Financial Markets Worldwide
🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

SolarEdge Technologies Shares Surge 10% on Q3 Revenue Beat & Strong Outlook

Published 07/11/2022, 22:02
© Pavlo Gonchar / SOPA Images/Sipa via Reuters Connect
SEDG
-

By Davit Kirakosyan

SolarEdge Technologies (NASDAQ:SEDG) shares gained more than 10% after-hours following the company’s reported Q3 results, with revenue of $836.7 million (up 59% year-over-year) coming in better than the consensus estimate of $826.36 million.

EPS was $0.91, compared to the consensus estimate of $1.47. Revenues from the solar segment grew 65% year-over-year to a record of $788.6 million.

“We are pleased with our third quarter results, setting new revenue and operating profit records. The results reflect extremely strong momentum in Europe where our revenues grew 90% compared to the same quarter last year,” said Zvi Lando, Chief Executive Officer of SolarEdge.

The company provided its Q4/22 outlook, expecting revenue in the range of $855-885 million, compared to the consensus estimate of $856.78 million.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.