SolarCity Loss Narrows After Beating Installation Forecast
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SolarCity Corp., the biggest U.S. residential solar installer, posted a smaller first-quarter loss after surging demand for rooftop power plants helped the company beat its own installation forecast.
The net loss narrowed to $21.5 million, or 22 cents a share, from $24.1 million, or 26 cents, a year earlier, San Mateo, California-based SolarCity said Tuesday in a statement. Excluding some items, the company lost $1.52 a share, the most since its December 2012 initial public offering and less than the $1.66 average of eight analysts’ estimates compiled by Bloomberg.