SolarEdge Technologies’ earnings edged past analysts’ expectations for the first quarter.
The solar energy technology company reported adjusted earnings of 64 cents per share, which exceeded analysts' estimates of 62 cents. Revenue of $271.9 million also beat analysts’ expectations of $265.4 million.
Guy Sella, founder, chairman and CEO of SolarEdge, mentioned Europe as a strong contributor to the first quarter growth. Sella also said that the acquisition of SMRE makes way for SolarEdge’s entry into the e-mobility market.
For the current quarter, the company expects revenue to range between $310 million and $320 million. Analysts are expecting the company’s revenue to be $314.9 million for the quarter.