Summary by Moomoo AI
Sunrun Inc., a leading provider of residential solar, storage, and energy services, announced its financial results for the second quarter ended June 30, 2024. The company reported a net income of $139.1 million, or $0.63 per basic share and $0.55 per diluted share, with total revenue reaching $523.9 million, a decrease of 11% from the same quarter the previous year. The decrease in revenue was attributed to a shift in product mix, as the company continues to focus on subscriber growth over upfront revenue recognition. Sunrun's subscriber base grew to 828,129, with 26,687 customer additions in the quarter. The company installed 192.3 Megawatts of solar energy capacity and 264.5 Megawatt hours of storage capacity, representing a 152% year-over-year growth in storage installations. Sunrun also expanded its credit facility to...Show More