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Enphase Energy Stock Spikes as Earnings and Forecast Top Estimates

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Enphase Energy shares were soaring Wednesday after the solar energy company’s quarterly earnings and first-quarter guidance barreled past expectations.

Enphase (ticker: ENPH) reported an adjusted quarterly profit of 73 cents a share, topping expectations for 59 cents a share, on record revenue of $412.7 million, which beat estimates for $400.2 million. Non-GAAP gross margins came in at 40.2% for the quarter.

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