American solar energy company SolarCity has released its fourth quarter earnings from 2014, proclaiming “the best quarter and year in our history” — despite incurring a significant operating net loss.
The world of financial earnings reports can always be a tricky one, especially when — in SolarCity’s case — revenue and installations represented record highs, but the company’s net loss sky-rocketed to $141 million, up from only $39 million a year earlier.
As a result, according to Fortune, the “worse-than-expected losses sent SolarCity’s stock price plunging more than 5% in after-hours trading.”
Nevertheless, SolarCity did have some good news — in fact, much of the material provided to investors is all about this good news (which is of no surprise to anyone). Of the company’s “major achievements” is a 110% increase in residential MW deployment, year over year — 176 MW in the fourth quarter of 2014, and a total of 502 MW for the full year.
As of the conclusion of 2014, SolarCity had 190,000 customers and $2.8 billion worth of solar energy systems assets. And its position ahead of their competitors is simply growing and growing, according to the latest research data available from GTM Research.
SolarCity also provided its guidance for the year ahead, with a total of between 920 MW and 1,000 MW predicted to be deployed in the full year, and 145 MW in the first quarter.
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