Solaredge increased revenue in Q3 significantly

Inverter manufacturer Solaredge Technologies, Inc. reported record revenues of $410.6 million in the third quarter 2019, up 26 percent from $325.0 million in the prior quarter and up 74 percent from $236.6 million in the same quarter last year. Revenues related to the solar business were $387.8 million, up 26 percent from $306.7 million in the prior quarter and up 66 percent from $233.8 million in the same quarter last year.
Operating income (EBIT) was $66.0 million, up 94 percent from $34.0 million in the same quarter last year. Net income was $41.6 million, up 26 percent from $33.1 million in the prior quarter and down 9 percent from $45.6 million in the same quarter last year.
For the fourth quarter, the company expects revenues to be within the range of $410 million to $420 million, and revenues from solar products alone to be within the range of $388 million to $398 million.
© PHOTON

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