Why Bloom Energy Stock Just Jumped 12%
Shares of fuel cell pioneer Bloom Energy (NYSE: BE) are electrifying investors Friday morning, scoring an 11.7% gain in share price as of 10 a.m. ET despite missing earnings rather badly last night.
Heading into the third quarter, analysts had forecast that Bloom would lose $0.06 per share, adjusted for one-time items, on quarterly sales of $277.2 million. The bad news is that Bloom actually lost $0.20 per share (also adjusted). The good news, though -- and the reason investors are happy despite the loss -- is that Bloom scored quarterly sales of $292.3 million.
Bloom Energy's non-GAAP (adjusted) loss for the quarter may have been worse than what Wall Street was expecting, but the really bad news for Bloom last quarter is that, when calculated according to generally accepted accounting principles (GAAP), the company actually lost $0.31 per share -- which is five times worse than a $0.06 loss.
Source Fool.com
