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FREMONT, Calif. (AP) — FREMONT, Calif. (AP) — Enphase Energy Inc. (ENPH) on Tuesday reported first-quarter profit of $29.7 million.
The Fremont, California-based company said it had net income of 22 cents per share. Earnings, adjusted for one-time gains and costs, came to 68 cents per share.
The results missed Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 71 cents per share.
The solar technology company posted revenue of $356.1 million in the period, which also did not meet Street forecasts. Fourteen analysts surveyed by Zacks expected $362.1 million.
For the current quarter ending in June, Enphase Energy said it expects revenue in the range of $340 million to $380 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ENPH at https://www.zacks.com/ap/ENPH