NEW YORK (TheStreet) -- Shares of Sunrun (RUN) - Get Report were soaring 17.93% to $6.38 on heavy trading volume late Friday morning after the company posted revenue that beat analysts' estimates for the 2016 second quarter.
After yesterday's closing bell, the solar energy products company said revenue jumped 69% to $122.5 million year-over-year. Analysts were looking for revenue of $111.2 million.
GAAP earnings per diluted share were 31 cents.
Sunrun also installed 65 megawatts of panels during the period, surpassing its target of 60 megawatts, Bloomberg noted. Total deployments rose 54% year-over-year.
The company projects deployments in the range of 270 megawatts to 280 megawatts this year.
About 4.49 million of Sunrun's shares changed hands so far today vs. its average 30-day volume of 811,965 shares per day.