SolarEdge Technologies Inc: earnings beat forecasts, earningsa below forecasts in Q2

SolarEdge Technologies Inc (NASDAQ: SEDG) released a report on Tuesday with results in the second quarter that beat analysts. The income indicator did not justify the forecasts.

The company posted earnings per share of $2.79 on revenue of $991.29M. Analysts polled by Investing.com had forecast earnings per share of $2.53 and total revenue of $992.39M.

Shares of SolarEdge Technologies Inc lost 11.26% traded at $212.50 in the after market close, according to the report.

This year, SolarEdge Technologies Inc's share price, down 15%, has performed worse than average on the Nasdaq Index, up 36% year-to-date.

SolarEdge Technologies Inc follows the general trend of companies in the Energy sector this month

On Friday, Exxon Mobil reported second-quarter earnings of $1.94, earnings of $82.91B, compared to earnings-per-share estimates of $2.04 on total revenue of $82.8B

Chevron's earnings beat analysts' expectations on Friday in the second quarter, quarterly earnings per share of $3.08 on total earnings of $48.9B Investing.com analysts previously predicted earnings per share of $2.98 on total earnings of $47.62B