SolarCity Posts Loss as Spending on New Systems Increases
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SolarCity Corp., the second-largest U.S. solar company by market value, posted a first-quarter loss as it bore higher costs from installing rooftop solar systems at little or no charge to customers.
The loss was $31 million, or 41 cents a share, compared with income of $2.76 million, or 4 cents, a year earlier, San Mateo, California-based SolarCity said today in a statement. That was 9 cents more than the average of six analysts’ estimates compiled by Bloomberg.