SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Bloom Energy Corp. (BE) on Tuesday reported a loss of $23.1 million in its third quarter.
The San Jose, California-based company said it had a loss of 10 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, came to 15 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.
The developer of fuel cell systems posted revenue of $519 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $412.4 million.
Bloom Energy shares have increased fivefold since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $113.28, increasing elevenfold 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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