SolarCity Corp (NASDAQ:SCTY) reported a bigger quarterly loss as the residential solar panel installer's total operating expenses jumped 54 percent.
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SolarCity, which is backed by Tesla Motors Inc founder Elon Musk, said net loss attributable to shareholders widened to $25 million, or 25 cents per share, in the first quarter ended March 31, from $21.5 million, or 22 cents per share, a year earlier.
Revenue rose 81.6 percent to $122.6 million
Total operating expenses rose to $226.9 million from $147.4 million.
The company said in February it would increase sales and marketing spending to counter the impact from its decision to exit the Nevada market.
Shares tumbled over 13% in extended hours trading and have lost over 55% so far this year.
(Reporting by Arathy S Nair in Bengaluru; Editing by Sriraj Kalluvila)