SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Bloom Energy Corp. (BE) on Thursday reported fourth-quarter earnings of $104.8 million.
On a per-share basis, the San Jose, California-based company said it had net income of 38 cents. Earnings, adjusted for one-time gains and costs, came to 43 cents per share.
The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.
The developer of fuel cell systems posted revenue of $572.4 million in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $511.6 million.
For the year, the company reported that its loss narrowed to $29.2 million, or 13 cents per share. Revenue was reported as $1.47 billion.
Bloom Energy expects full-year revenue in the range of $1.65 billion to $1.85 billion.
Bloom Energy shares have climbed almost 4% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $23.04, more than doubling in the last 12 months.
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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
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