Bloom Energy stock soars 17% on surprise quarterly profit

Shares of Bloom Energy Corp. (BE) rose more than 17% in the extended session Wednesday after the alternative-energy company surprised Wall Street with an adjusted profit and revenue that topped expectations for the third quarter. Bloom Energy lost $169 million, or 88 cents a share, in the quarter, compared with $57 million, or 31 cents a share, in the year-ago period. Adjusted for one-time items, the company earned 15 cents a share. Revenue rose 37% to $400.3 million. Analysts polled by FactSet expected an adjusted loss of 4 cents a share on sales of $370 million. The adoption of AI across "all sectors" of society will benefit Bloom Energy, Chief Executive KR Sridhar said in a statement, leading "data centers to adopt Bloom Energy servers as a quickly deployable primary power solution."

-Claudia Assis

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11-08-23 1742ET

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