Why JinkoSolar's Shares Popped 21.7% on Wednesday
Shares of solar manufacturer JinkoSolar (NYSE: JKS) jumped as much as 21.7% in trading Wednesday after the company reported second-quarter 2020 results. Shares kept the momentum going throughout the day and were bouncing near 52-week highs at 3 p.m. EDT, up 20.9% for the day.
Revenue for the quarter was up 22.2% versus a year ago to $1.20 billion, and above management's guidance range of $1.10 billion to $1.18 billion. Gross margin was 17.9%, at the top end of the 16% to 18% guidance. And net income was $45.0 million, or $0.93 per share, easily beating the $0.61 that analysts expected.
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Source Fool.com
