BURNABY, British Columbia (AP) — BURNABY, British Columbia (AP) — Ballard Power Systems Inc. (BLDP) on Tuesday reported a loss of $21 million in its first quarter.
The Burnaby, British Columbia-based company said it had a loss of 7 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 12 cents per share.
The fuel cell technology company posted revenue of $15.4 million in the period, which fell short of Street forecasts. Six analysts surveyed by Zacks expected $17.5 million.
The company’s shares closed at $1.26. A year ago, they were trading at $2.81.
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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 BLDP at https://www.zacks.com/ap/BLDP
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