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SolarCity Is Surging


Q1 revenue for the San Francisco-based solar services provider increased 112% year-over-year to $63.5 million. That also beat forecasts of $53.4 million.

The firm raised its full-year 2014 guidance to 500-500 megawatts deployed versus a prior statement of 475-525. And they expect 2015 to basically double that, at 900-1,000 megawatts.

They also said they'd set a new quarterly record of booking 136 megawatts-worth of projects, most of it residential, adding 17,664 customers in Q1. They "remain firmly on track to meet our one million customer target by mid-2018." 

Adjusted earnings missed by a penny at $0.82 net oss-per-share versus $0.81 expected.

Management projects a slower Q2, with adjusted loss per share of $0.90-$1. 

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