Shares of Bloom Energy Corp surged 7.98% in pre-market trading on Wednesday, extending the sharp rally seen in the prior after-hours session. The move came after the fuel-cell technology company reported record-breaking second-quarter results that handily beat Wall Street expectations and raised its full-year outlook for a second consecutive time.

Bloom Energy posted Q2 revenue of $1.065 billion, a 166% year-over-year increase and the first time quarterly revenue crossed the $1 billion mark, well above the consensus estimate of $822.8 million. Adjusted earnings per share came in at $0.78, nearly doubling the $0.41 analyst forecast. Gross margin expanded to 33.4% from 26.7% a year earlier, and the company swung to a GAAP operating profit of $182.2 million from a loss of $3.5 million. The robust performance was driven by a 215% surge in product revenue, fueled by accelerating demand from major U.S. hyperscalers and AI-focused data center operators.

Management also significantly raised its full-year 2026 guidance, now projecting revenue between $3.9 billion and $4.2 billion, up from $3.4 billion to $3.8 billion previously, and adjusted EPS of $2.55 to $2.85, compared with the prior range of $1.85 to $2.25. CEO KR Sridhar emphasized that all major U.S. hyperscalers and over a dozen neoclouds, AI labs, and colocation operators have validated Bloom’s power solutions for their AI factories, positioning the company as a key beneficiary of the AI infrastructure buildout.