SolarEdge Technologies Stock Sinks On Q3 Earnings, Company Tussles With 'Slow Market Environment'
Portfolio Pulse from Adam Eckert
SolarEdge Technologies Inc reported a significant decline in Q3 earnings and worse-than-expected revenue results, causing its shares to trade lower. The company's Q3 revenue was $725.3 million, down 27% YoY and below estimates of $768.38 million. It reported a quarterly loss of 55 cents per share, well below the 91 cents in earnings from last year. The company expects Q4 revenue to be in the range of $300 million to $350 million, far less than the $692 million estimate.

November 01, 2023 | 9:11 pm
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SolarEdge's disappointing Q3 earnings and revenue results, along with a bleak Q4 outlook, have led to a drop in its share price.
SolarEdge reported a significant decline in Q3 earnings and worse-than-expected revenue results. This negative news, coupled with a bleak Q4 outlook, has led to a drop in its share price. Investors may be concerned about the company's performance and future prospects, leading to selling pressure on the stock.
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