SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Bloom Energy Corp. (BE) on Thursday reported a loss of $57.5 million in its first quarter.
On a per-share basis, the San Jose, California-based company said it had a loss of 25 cents. Losses, adjusted for stock option expense and non-recurring costs, were 17 cents per share.
The results did not meet Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 10 cents per share.
The developer of fuel cell systems posted revenue of $235.3 million in the period, which also did not meet Street forecasts. Eight analysts surveyed by Zacks expected $254.1 million.
Bloom Energy expects full-year revenue in the range of $1.4 billion to $1.6 billion.
Bloom Energy shares have decreased 21% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $11.74, a fall of 29% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BE at https://www.zacks.com/ap/BE
Copyright © 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
