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published in Blogs
Aug 03, 2021
SolarEdge (SEDG, $257.72) beats Q2 earnings expectations

SolarEdge (SEDG, $257.72) beats Q2 earnings expectations

SolarEdge Technologies, Inc.  posted its second quarter earnings that surpassed analysts’ expectations.

The solar power equipment maker’s non-GAAP earnings came in at $1.28 per share, compared to analysts’ estimate of 89 cents a share (based on FactSet survey). Earnings in the year-ago quarter were 70 cents a share.

Revenue increased to $480.1 million in the quarter vs. year-ago quarter’s $331.9 million.

CEO Zvi Lando mentioned “record revenues” in both solar and non-solar businesses, and continued solid demand in various geographies and across the different segments.

SolarEdge expects third-quarter revenues in the range of $520 million to $540 million.

Related Tickers: SEDG