Why Enphase Energy's Shares Jumped 6.5% on Wednesday

Shares of Enphase Energy (NASDAQ: ENPH) were all over the map today after the company reported second-quarter 2020 earnings. Shares fell 2% early in trading but rose 6.5% by midday. At 12:55 p.m. EDT, shares were up 6.4% and seemed to be trending toward a positive day.

Revenue for the quarter was $125.5 million, down from $134.1 million a year ago, and net loss was $47.3 million, or $0.38 per share. But non-GAAP net income was $23.5 million, up slightly from $23.2 million a year ago as gross margin increased from 34.1% to 39.6%.

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Source Fool.com