ChargePoint Shares Climb on Narrowed 2Q Loss, Revenue Growth

Dow Jones
Sep 03
 

Shares of ChargePoint Holdings climbed after the company narrowed its loss and posted stronger revenue growth than Wall Street analysts were expecting.

The stock was up 18% to $6.11 in premarket trading on Thursday. Shares closed Wednesday down 2.1% at $5.19, having fallen 22% this year.

The electric-vehicle charging company on Wednesday reported a fiscal second-quarter loss of $35.6 million, or $1.35 a share, compared with a loss of $66.2 million, or $2.85 a share, a year earlier.

Revenue grew to $116.1 million, up from $98.6 million a year prior.

Analysts polled by FactSet were expecting a loss of $1.57 a share on $105.2 million in revenue.

For the current third quarter, the company guided for revenue between $105 million and $115 million. Analysts were expecting $109.3 million.

 
 

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