Why Shares of Bloom Energy Are Bounding Higher Today
Beating analysts' second-quarter revenue expectations of $229.4 million, Bloom Energy (NYSE: BE) reported sales of $243.2 million for the period. But that's hardly the only thing charging up investors in this fuel cell specialist today.
An encouraging 2022 forecast as well as favorable coverage from Wall Street are other catalysts powering investors' enthusiasm, and as of 11:57 a.m. ET on Wednesday, shares of Bloom Energy are up 16.1%.
Beyond the top line of the income statement, investors recognized the company's progress toward profitability as a positive from the quarter. Bloom Energy reported an adjusted gross profit margin of 19.6% for the second quarter, up from the 18% adjusted gross margin that it reported during the same period last year. Similarly, the company had an adjusted operating margin of negative 10.1%, indicating a narrower loss than the negative 10.3% that it reported in the second quarter of 2021.
Source Fool.com
