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ChargePoint Stock Rallies After Q3 Results: EPS In Line, Revenues Beat
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ChargePoint Stock Rallies After Q3 Results: EPS In Line, Revenues Beat
Dec 4, 2024 2:28 PM

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 ( CHPT ) 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 ( CHPT ). "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 ( CHPT ) expects fourth-quarter revenue of $95 million to $105 million, versus the $101.26 million estimate.

CHPT Price Action: According to Benzinga Pro, ChargePoint ( CHPT ) 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. ( CHPT )

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