SolarEdge Technologies Inc.
- SolarEdge plunged 20% to $67.37 after the solar inverter maker reported weaker-than-expected revenue, but losses narrowed in the fourth quarter.
Revenue in the fourth quarter declined to $316 million from $890.7 million, net income swung to a loss of $162.4 million from $20.8 million, and diluted earnings per share were ($2.85) compared to a profit of 36 cents a year ago.
Revenue in 2023 increased to $2.97 billion from $1.96 billion, net income decreased to $34.3 million from $169.2 million, and diluted earnings per share declined to 60 cents from $3.06 a year ago.
Feb 21, 2024
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