SolarCity First-quarter Installations Top Forecast

SolarCity Corp, on Tuesday said first-quarter solar installations were higher than expected despite a particularly snowy winter in many of its key markets.

 

The company, which is backed by Tesla Motors Inc founder Elon Musk, reported first-quarter installations of 153 megawatts, above its forecast of 145 MW.

 

SolarCity reported a quarterly loss attributable to common shareholders of $21.5 million, or 22 cents per share, compared with $24 million, or 26 cents per share, a year ago. Revenue rose 6 percent to $67.5 million.