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Plug Power Inc (NASDAQ: PLUG ) stock was down on Wednesday after reporting an earnings miss for the fourth quarter of 2017.
Plug Power Inc reported losses per share of 8 cents for the fourth quarter of the year. This matches the company's losses per share from the same time last year. Unfortunately for PLUG stock, this puts it one cent below Wall Street's losses per share estimate of 7 cents for the period.
Net loss reported by Plug Power Inc for the fourth quarter of 2017 was $19.44 million. This is a wider net loss that the $19.21 million that was reported in the fourth quarter of 2016.
Plug Power Inc also reported an operating loss of $17.72 million for the fourth quarter of the year. The hydrogen fuel cell manufacturer reported an operating loss of $11.94 million in the same period of the year prior.
Plug Power Inc's revenue for the fourth quarter of 2017 came in at $31.87 million . This is down from its revenue of $32.58 million that was reported in the the same quarter of the previous year. However, it still beat out analysts' revenue estimate of $31.03 million for the quarter.
Plug Power Inc also took time in its most recent earnings report to reaffirm its outlook for the first quarter of 2018. The company is expecting revenue for the quarter to range from $22 million to $24 million. This will have the company falling short of Wall Street's revenue estimate of $27.40 million for the period.
PLUG stock was down 2% as of noon Wednesday.
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As of this writing, William White did not hold a position in any of the aforementioned securities.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
