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Why SolarEdge Stock Jumped Today

TheMotleyFool

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Shares of SolarEdge Technologies (NASDAQ: SEDG), a smart energy company, were rising today after the company beat analysts' consensus estimates for both its top and bottom lines in the first quarter.

The solar energy stock was up by 7.2% as of 1:25 p.m. ET.

SolarEdge reported non-GAAP (adjusted) earnings of $2.90 in the quarter, which was more than double the $1.20 per share in the year-ago quarter and ahead of Wall Street's average estimate of $1.92. That was impressive enough on its own, but investors were also happy to see that SolarEdge's revenue rose 44% in the quarter to $944 million, beating analysts' consensus estimate of $932.5 million.

Source Fool.com

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