Bloom Energy Corp ( BE ) released third-quarter financial results after the market closed on Tuesday. Here’s a rundown of the report.

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Q3 Earnings: Bloom Energy ( BE ) reported third-quarter revenue of $519.05 million, beating analyst estimates of $424.98 million, according to Benzinga Pro. The energy company reported third-quarter adjusted earnings of 15 cents per share, beating estimates of 9 cents per share.

Total revenue climbed 57.1% year-over-year. Product and service revenue accounted for $442.9 million of the company’s quarterly revenue, up 55.7% year-over-year.

“Bloom is at the center of a once-in-a-generation opportunity to redefine how power is generated and delivered,” said KR Sridhar, founder, chairman, and CEO of Bloom Energy ( BE ).

“Powerful tailwinds — surging demand for electricity driven by AI, nation-state priorities, and our relentless pace of innovation — are converging to accelerate our audacious journey to becoming a standard for onsite power globally.”

Bloom Energy ( BE ) ended the quarter with approximately $595 million in total cash and cash equivalents.

The company’s management team will further discuss the quarter on an earnings call at 5 p.m. ET.

BE Price Action: Bloom Energy ( BE ) shares were up 5% in after-hours, trading at $119 at publication time, according to Benzinga Pro.

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