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Why SolarEdge Technologies Inc's Shares Popped 22% Today

TheMotleyFool

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Why SolarEdge Technologies Inc's Shares Popped 22% Today

Shares of solar inverter and optimizer company SolarEdge Technologies Inc (NASDAQ: SEDG) jumped as much as 22.3% in trading Thursday after the company reported second-quarter results. As of 11:45 a.m. EDT, shares were still up 19.5% on the day.

Revenue rose 9% from a year ago to $136.1 million, and net income jumped 59% to $22.5 million. Non-GAAP net income was also up 30% to $22.5 million, or $0.55 per share, compared to the $0.36 in earnings that analysts expected.

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Source: Fool.com