RTTNews | Nov 5, 2020 10:37AM EST

10:36 Thursday, November 5, 2020 (RTTNews.com) - SolarEdge Technologies, Inc. (SEDG) shares are gaining more than 10 percent on Thursday morning trade as the company reported an increase in profit for the third quarter. Currently, the shares are at $228.97, up 10.63 percent from the previous close of $206.56 on a volume of 1,070,638.

For the quarter, the smart energy technology company's earnings increased to $43.75 million or $0.83 per share from $41.63 million or $0.81 per share in the prior year. Adjusted earnings per share were $1.21 per share. Wall Street analysts were looking for earnings of $0.14 per share on revenue of $358.83 million.

Revenue for the quarter declined to $338.09 million from $410.56 million in the previous period.

Looking ahead, the company expects revenue to be in a range of $345 to $365 million for the fourth quarter. Analysts expect revenue in a range of $329.4 to $487.98 million.

Read the original article on RTTNews ( https://www.rttnews.com/3143508/stock-alert-solaredge-tech-up-10-on-increase-in-q3-profit.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com All Rights Reserved