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Investing.com — Shares of ChargePoint Holdings Inc (NYSE:CHPT) — a hardware and software provider for electric vehicle charging stations — have risen after-hours on the back of its earnings results.
ChargePoint announced a loss per share of 21 cents on revenue of $65 million. Analysts polled by Investing.com anticipated a loss of 12 cents a share on revenue of $63.49 million. Revenue increased 79% year over year.
ChargePoint shares climbed over 2% in reaction to the results following its 5% gain in Tuesday’s session.
“ChargePoint has delivered another strong quarter, as we have continued to scale our commercial, fleet and residential verticals across two continents,” said Pasquale Romano, President and CEO of ChargePoint.
“The investments we have made over many years have enabled us to capture charging demand from customers preparing for an electric future. This quarter we added more customers at an accelerated rate, while also successfully closing two acquisitions.”
Looking ahead, the company expects revenue of between $73 million and $78 million for the fourth quarter and is raising its full-year revenue outlook to between $235 million and $240 million, from $225 million to $235 million.
In mid-November, JPMorgan (NYSE:JPM) initiated ChargePoint with a neutral rating and $34 price target, saying the company’s “strong position” was already priced in.
