Bloom Energy reported a profit of $250.3 million, or 78 cents a share, for the period ending September 30, a sharp reversal from the $23.1 million loss recorded during the same quarter last year. Adjusted earnings hit 94 cents a share, significantly exceeding the 69-cent consensus estimate from FactSet analysts. Revenue climbed to $1.24 billion, more than doubling the $519 million posted a year prior and topping the $1.07 billion forecast.

Chief Executive Officer KR Sridhar attributed the performance to a fundamental shift in energy infrastructure. He noted that the transition from centralized power to distributed generation is expanding beyond initial adoption by hyperscalers into broader market segments. Despite the robust financial results, shares declined 3.1% in Thursday’s after-hours trading following an 8.7% drop during the regular session.