SolarCity (SCTY) Posts Q2 Loss of 96c/Share; Issues Light Q3 Outlook

SolarCity (NASDAQ: SCTY) reported Q2 EPS of ($0.96), $0.03 better than the analyst estimate of ($0.99). Revenue for the quarter came in at $37.95 million versus the consensus estimate of $63.24 million.

• MW Deployed of 107 MW, up 102% year-over year (with residential MW Deployed up 111% year-over-year to 90 MW). Total cumulative MWs Deployed reached 756 MW as of June 30, 2014.
• MW Booked totaled 218 MW, up 216% as compared to Q2 2013.
• Cumulative Energy Contracts increased to 128,933, up 114% since the end of the second quarter of 2013 (and 28% since the end of the first quarter 2014).
• Cumulative Customers grew to 141,034, up 102% since the end of the second quarter of 2013 (and 27% since the end of the first quarter 2014).

SolarCity sees Q3 2014 EPS of ($1.2)-($1.1), versus the consensus of ($1). SolarCity sees Q3 2014 revenue of $5 million.

For earnings history and earnings-related data on SolarCity (SCTY) click here.

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