Bloom Energy stock bounces back after optimistic forecast

Claudia Assis - finance.yahoo.com Posted 5 years ago

Shares of Bloom Energy Corp. fell more than 3% in the extended session Tuesday after the clean-energy company reported a narrower-than-expected adjusted quarterly loss, but returned to even after an optimistic annual forecast. Bloom Energy said it lost $99.8 million, or 91 cents a share, in the quarter, compared with a loss of $67.8 million, or $6.56 a share, a year ago. Adjusted for one-time items, Bloom Energy lost 12 cents a share, compared with a loss of 55 cents a share a year ago. Revenue rose to $214 million in the quarter, from $123 million a year ago. Analysts polled by FactSet had expected the company to report an adjusted loss of 18 cents a share on sales of $207 million. While shares dropped after the numbers were released, they rebounded to even in after-hours trading following Chief Executive KR Sridhar said on a conference call that Bloom expects "to see revenue growth in the mid-20 percentage points year-over-year" in 2019. Analysts had been modeling revenue growth of less than 15% in 2019, according to FactSet. As of 6:30 Eastern time, Bloom stock was showing slight gains.

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