SolarCity Corp. (SCTY – Snapshot Report) released its first quarter fiscal 2016 earnings results, posting an earnings loss of $-2.56 per share and revenue of $122.6 million.  

Currently, SCTY has a Zacks Rank #3 (Hold), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.

SolarCity:                                              

1. Missed earnings estimates. The company posted an earnings loss of $-2.56 per share, lagging behind our Zacks Consensus Estimate of a loss of $-2.30 per share (this number excludes $2.31 from non-recurring items).

2. Beat revenue estimates. The company saw revenue figures of $122.6 million, surpassing our consensus estimate of $105 million and increasing 81.6% year-over-year.

3. Reported 214 MW installed for a cumulative total of 2.2 GW, and a cost of $3.18 per Watt with installation costs of $1.98 per Watt.

4. Expects GAAP revenue from periodic billions of $105-108 million, operating expenses in the range of $240-250 million, and non-GAAP loss per share between $2.70-2.80 for the second quarter, well below analysts’ original forecast of a loss of $-2.13 per share.

5. SCTY was down $3.37, or 14.97%, to $19.14 as of 4:49 PM ET in after-hours trading shortly after its earnings report was released.

Here’s a graph that looks at SolarCity’s performance over the past 3 months:

Solarcity Corporation (SCTY – Snapshot Report) vs. Peers Percent Change Over Time – 3 Months | FindTheCompany

SolarCity Corporation provides clean energy services. The company offers solar power, energy efficiency and electric vehicle design, monitoring and maintenance services to homeowners, businesses, schools, non-profits, and government organizations in the United States. SolarCity is headquartered in San Mateo, California.