SolarCity Drops on Weak Guidance
NEW YORK (TheStreet) -- SolarCity Corp
For the third quarter, the company managed to double its revenue to $48.6 million compared to same period a year earlier. Both its top and bottom line surpassed Wall Street estimates, with a loss of 43 cents a share 1 cent higher than analysts surveyed by Yahoo! Finance had hoped for and revenue beating by $6.1 million.
"SolarCity continues to demonstrate that demand, execution, and financing remain strong tailwinds supporting growth toward our one million customer goal by mid-2018," said CEO Lyndon Rive.
The San Mateo, Calif.-based company has risen 400% over the year, similar to the sky-high trajectory of Chairman Elon Musk's company Tesla
Written by Keris Alison Lahiff.