Bloom Energy rallies after adjusted earnings and revenue beat estimates

Bloom Energy Corp.
BE,
-1.05%
stock is up about 7% in aftermarket trades Thursday after the company beat analyst estimates for adjusted profit and revenue. The company said its fourth-quarter net loss widened to $47.17 million, or 23 cents a share, from a loss of $33.32 million, or 19 cents a share, in the year-ago quarter. Adjusted profit in the fourth quarter totaled 27 cents a share, ahead of the Wall Street estimate of 9 cents a share, according to data from FactSet. Revenue increased to $462.58 million from $342.47 million, in the year-ago quarter, well ahead of the analyst estimate of $398.7 million. Looking ahead, Bloom Energy said it expects 2023 revenue of $1.4 billion to $1.5 billion, compared to the analyst estimate of $1.48 billion.