SolarEdge Technologies Loss Narrows In Q3, Stock Up

(RTTNews) - SolarEdge Technologies, Inc. (SEDG), Wednesday announced third-quarter financial results, reporting a loss of $50.1 million or $0.84 a share compared to $1,231 million or $21.58 a share last year.

On adjusted basis, loss totaled $18.3 million or $0.31 a share compared to a loss of $899.7 million or $15.78 a share in the previous year.

Analysts, on average, expected a loss of $0.42 a share for the quarter.

Revenues increased to $340.2 million from last year's $235.4 million.

The company anticipates revenues of $310 million to $340 million for the fourth quarter.

Analysts, on average, see revenues of $343.27 million for the next quarter.

Currently, SEDG is climbing 8.69 percent to $34.65 on the Nasdaq.