A view of an EVgo EV charging station on July 28, 2023 in Corte Madera, California.
Justin Sullivan | Getty Images
EV charging network operator EVgo on Wednesday reported second-quarter revenue that beat Wall Street’s expectations and posted a narrower-than-expected loss, as more electric vehicle drivers used its network and revenue from its private-label eXtend unit boomed.
EVgo also increased its guidance for the full year. Shares were up about 8% in after-hours trading following the report.
Here are the key numbers from EVgo’s second-quarter report, compared with Wall Street analysts’ consensus estimates as reported by Refinitiv:
Loss per share: 8 cents vs. 27 cents expected.Revenue: $50.6 million vs. $29.6 million expected.
The company reported a net loss of $21.5 million, or 8 cents per share. A year ago, EVgo reported a profit of $17 million, or 6 cents per share, on revenue of $9.1 million.
“We are pleased to report EVgo’s network throughput growth is accelerating,…
2023-08-02 17:57:08
Original from www.cnbc.com
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