SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Bloom Energy Corp. (BE) on Wednesday reported a loss of $23.8 million in its first quarter.
On a per-share basis, the San Jose, California-based company said it had a loss of 10 cents. Earnings, adjusted for one-time gains and costs, were 3 cents per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 7 cents per share.
The developer of fuel cell systems posted revenue of $326 million in the period, which also topped Street forecasts. Eight analysts surveyed by Zacks expected $292.2 million.
Bloom Energy expects full-year revenue in the range of $1.65 billion to $1.85 billion.
Bloom Energy shares have declined 17% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $18.36, an increase of 65% 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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