Enphase stock gained 7% after fourth-quarter earnings fell short of expectations

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Enphase Inc.

Shares jumped more than 7% the extended session on Tuesday after the maker of inverters for solar-power systems reported fourth-quarter earnings that topped Wall Street’s views. Enphase earned $153.8 million, or $1.06 per share, in the quarter, compared with $115 million, or 80 cents per share, in the year-ago period. Adjusted for one-time items, it earned $1.51 per share. The said revenue was a “record” $725 million, up from $635 million. Analysts polled by FactSet expected Enphase to report adjusted earnings of $1.27 per share on sales of $707 million. Enphase guided for revenue of between $700 million and $740 million in the first quarter of 2023, well above the FactSet consensus of roughly $685 million in revenue for the quarter. Shares of Enphase ended the regular trading day up 2.5%.

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