(Enphase) Shares of Enphase Energy rose more than 11% after reporting record revenue of $441.3 million in the first quarter of 2022.
Enphase said its gross margin was 40.1% in the first quarter, compared to 39.6% in the prior quarter and 40.7% in the previous year.
The company reported a net income of $51.8 million, an increase from $31.7 million in the prior year but lower than $52.6 million in the fourth quarter of 2021.
Diluted earnings per share was $0.37, the same as the fourth quarter of 2021 but higher than $0.22 in the previous year.
Enphase predicts a higher revenue of between $490 million and $520 million in the second quarter, with the gross margin expected to range between 37.0% and 40.0%.
ENPH: NASDAQ is up +11.05%
