SolarEdge Technologies (NASDAQ:SEDG) announced its fiscal second quarter results after the markets closed on Wednesday.
Revenue of $124.8M and non-GAAP EPS of $0.44 (GAAP $0.55) beat the Street expectations of $0.36 by a wide margin. Revenue guidance for the next quarter, at $121M-$125M, is also above consensus estimates of $117M.
The revenue and profitability growth was predictable on the strength of the Company's product portfolio and lack of competitive solutions from its nearest competitor EnPhase Energy (NASDAQ:ENPH).
Since our last report, there have been several major developments in the residential solar market segment - ITC renewal, and net metering changes in California, Nevada and Hawaii. While the ITC development was a positive, the net metering developments
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