Why Vivint Solar's Shares Popped 11.6% Yesterday
Shares of Vivint Solar (NYSE: VSLR) jumped as much as 11.6% in trading yesterday after the residential solar installer reported third-quarter earnings that topped expectations. Shares gave up some of those gains as the day went on, but they closed up 6.8% for the day to lead renewable energy stocks.
Installations jumped to 65.1 megawatts (MW) in the quarter from 54.3 MW a year ago, and revenue jumped 33% to $103.8 million. Net loss increased by 76% to $13.8 million, or $0.11 per share. In the short term, losses can grow when installations rise because of the expenses incurred immediately to capture contracts that generate value for 20 years or more.
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Source Fool.com
