Earnings Results
Enphase’s revenue jumps more than 60% to $726 million
Workers install rooftop solar panels at a Port of Los Angeles facility last week. Enphase, which makes microinverters and other solar-power products, beat Wall Street expectations on Tuesday but the results weren’t enough to lift the stock.
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Shares of Enphase Energy Inc. dropped more than 16% in the extended session Tuesday after the energy technology company reported first-quarter earnings that beat Wall Street expectations but called for lower-than-expected revenue in the current quarter.
Enphase ENPH earned $146.9 million, or $1.02 a share, in the first quarter, compared with $52 million, or 37 cents a share, in the year-ago period. Adjusted for one-time items, the company earned $1.37 a share.
Revenue…
