Bloom Energy losses increase but beat expectations

Jeremy C. Owens - finance.yahoo.com Posted 5 years ago

Bloom Energy Corp. shares bounced around in after-hours trading Monday, after the company's losses increased but still beat expectations. Bloom reported first-quarter losses of $84.4 million, or 76 cents a share, on sales of $200.7 million, up from $168.9 million a year ago. After adjusting for stock-based compensation and smaller factors, Bloom reported an adjusted loss of 22 cents a share, double the adjusted losses of 11 cents a share a year ago. Analysts on average expected Bloom to report adjusted losses of 28 cents a share on sales of $196.9 million, according to FactSet. The stock gained as much as 4% in extended trading after the numbers were announced Monday, but then fell to losses as after-hours trading continued. Bloom shares closed Monday with a 3.1% decline at $14.72, lower than the $15 price it commanded in an initial public offering last year.

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