ChargePoint Stock Rallies After Q3 Results: EPS In Line, Revenues Beat

ChargePoint Holdings, Inc. CHPT reported its third-quarter results after Wednesday’s closing bell. Here’s a look at the details from the report. 

The Details: ChargePoint reported quarterly GAAP losses of 18 cents per share, in line with estimates. Quarterly revenue came in at $99.61 million, which beat the $89.84 million consensus estimate.

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“We are encouraged by record EV sales in the industry, and we continue to see network utilization driving the need for more charging infrastructure.” said Rick Wilmer, CEO of ChargePoint. “Our third-quarter results exceeded our expectations, and demonstrate that our strategy, focus on operational excellence, and rigorous cash management are translating to tangible results.”

Outlook: ChargePoint expects fourth-quarter revenue of $95 million to $105 million, versus the $101.26 million estimate.

CHPT Price Action: According to Benzinga Pro, ChargePoint shares are up 18.03% at $1.44 after-hours after gaining 5.17% during Wednesday’s regular trading session.

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Image: Courtesy of ChargePoint Holdings, Inc.