SolarEdge Stock Pops As Company Trounces Earnings Estimates

SolarEdge (SEDG) reported fourth-quarter results late Monday that crushed earnings and beat on revenue. SEDG stock jumped on the news.

The maker of solar components reported adjusted earnings of $2.86 a share on revenue of $890 million. Analysts expected SolarEdge to report earnings of $1.54 a share on revenue of $880 million.

SEDG stock popped 4.7% to $325.25 during after-hours trading on the stock market today.

Israel-based SolarEdge is a leading provider of inverters and power optimizers for solar power systems. Inverters convert direct current produced by solar panels into alternating current. Also, the company is transitioning to supplying home energy systems.

More to come.

Please follow Brian Deagon on Twitter at @IBD_BDeagon for more on tech stocks, analysis and financial markets.

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