BURNABY, British Columbia (AP) — BURNABY, British Columbia (AP) — Ballard Power Systems Inc. (BLDP) on Tuesday reported a loss of $11.4 million in its first quarter.
On a per-share basis, the Burnaby, British Columbia-based company said it had a loss of 4 cents.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 6 cents per share.
The fuel cell technology company posted revenue of $19.4 million in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $21.5 million.
The company’s shares closed at $3.29. A year ago, they were trading at $1.25.
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