Bloom Energy: 2Q Earnings Snapshot
SAN JOSE, Calif. (AP) _ Bloom Energy Corp. (BE) on Monday reported a loss of $62.2 million in its second quarter.
The San Jose, California-based company said it had a loss of 55 cents per share. Losses, adjusted for one-time gains and costs, were 13 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 14 cents per share.
The developer of fuel cell systems posted revenue of $233.8 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $208.5 million.
Bloom Energy shares have dropped 20% since the beginning of the year. In the final minutes of trading on Monday, shares hit $8, a decrease of 70% in the last 12 months.