SolarCity Sales Jump on 'Unprecedented Demand'

SolarCity Corp, the largest installer of residential solar panels in the United States, reported a 62 percent rise in quarterly sales amid "unprecedented demand."

The company's revenue rose to $61.3 million in the second quarter ended June 30 from $38 million a year earlier.

However, the net loss attributable to stockholders widened to $47.7 million from $39.5 million as operating expenses jumped 123 percent.

SolarCity last reported a quarterly profit in the fourth quarter of 2013. Prior to that, the company had not reported a profit since the first quarter of 2012.

(Reporting By Shubhankar Chakravorty in Bangalore; Editing by Maju Samuel)