Why Enphase Energy Stock Jumped 27% Today
Shares of Enphase Energy (NASDAQ: ENPH) jumped by as much as 26.7% in early trading Wednesday after the solar energy company reported its fourth-quarter financial results. The stock gave back some of those gains as the session went on, but was still up by about 10% at noon ET.
Revenue jumped by 56% year over year to $412.7 million, slightly topping estimates, although net income fell 28% to $52.6 million, or $0.37 per share. On a non-GAAP basis, which pulls out one-time items, earnings were $0.73 per share, easily topping the $0.57 per share that analysts expected.
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Source Fool.com
