SolarEdge Technologies Inc. posted its third quarter results after the bell Monday, leading to its shares soaring on Tuesday.
The smart energy technology company’s third-quarter revenue rose to $836.7 million, from $526.4 million in the year-ago quarter. The company mentioned that it generated a record revenue of $788.6 million in its solar segment.
SolarEgde’s revenues in Europe surged +90% from the year-ago period.
Earnings in the quarter came in at 43 cents per share, compared to the year-ago quarter’s $1.01 per share.
Looking ahead, the company expects revenues in a range of $855 million to $885 million for the fourth quarter. Its guidance for solar segment revenues is a range of $810 million to $840 million.