Investors Cheer Sky Solar Holdings for Delivering better than Expected Q2 Results

Sky Solar Holdings, Ltd. SKYS delivered better than expected results for the second quarter sending the stock higher in the pre-market trading. The company suffered a net loss of $1.4 million compared to a net income of $8.8 million in the year-ago quarter. Its loss per ADS was $0.03 compared to an EPS of $0.18 in the previous year period. Street analysts' expected a loss per share of $0.05. Similarly, Sky Solar generated total revenue of $17.0 million compared to $12.63 million representing 34.6 percent YOY growth. This is better than the analysts' predictions of $14.0 million. The company's chairman and CEO, Weili Su, said, "The efforts we implemented in previous years to develop our business in key markets have resulted in attractive cash-on-cash return, and we expect these efforts to result in stable earnings over the long run. We have a very bright future in the renewable energy industry and appreciate the loyalty of our shareholders." Following this, the stock traded up by $0.49, or 15.96 percent, to $3.56 in the pre-market trading.