Vivint Solar reported a loss of 57 cents a share for the first quarter, missing analysts' estimates of a loss of 38 cents a share for the quarter. Revenue grew 172.6% year over year to $9.54 million, above analysts' estimates of $8.06 million.
The company said it installed 46 MW worth of solar cells in the first quarter, a 131% increase from the year-ago quarter, and above the company's 40 MW to 42 MW guidance. Vivint Solar expects to install 63 MW to 67 MW worth of solar cells in the second quarter.
Vivint Solar said it expects to report revenue of $14 million to $15 million for the second quarter, below analysts' estimates of $17.12 million for the quarter.
About 1.7 million shares of Vivint Solar were traded by 10:43 a.m. Wednesday, above the company's average trading volume of about 1.2 million shares a day.