ChargePoint Stock Plunges After Earnings. The Economy Is Crimping Growth.

Shares of electric-vehicle charging-equipment maker ChargePoint were dropping sharply after disappointing quarterly earnings. There is sales growth at the company, but just not enough for investors.

Solid expansion, but below what Wall Street was expecting. Analysts were looking for a loss of 13 cents a share from $153.2 million in sales. “While we expected near-term headwinds….ChargePoint’s [guides] were below our revised expectations,” wrote J.P. Morgan analyst Bill Peterson in a report. “Growth is still being held back by reduced discretionary spend in some markets with fleet growth also being held back by lack of vehicle availability.”

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

ChargePoint Stock Plunges After Earnings. The Economy Is Crimping Growth.Wednesday evening, ChargePoint reported a per-share loss of 24 cents from $150.5 million in sales. Wall Street was looking for a 13-cent loss and about $153...
Source: MarketWatch - 🏆 3. / 97 Read more »

Stock Market News Today: Dow Falls More Than 200 Points; AMC Stock in FocusLive coverage of what's moving stocks and other markets, including the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite
Source: WSJ - 🏆 98. / 63 Read more »

These Stocks Are Moving the Most Today: C3.ai, ChargePoint, Apple, GameStop, UiPath, BlackBerry, Yext, WestRock, and MoreC3.ai withdraws its forecast that it would reach profitability on an adjusted basis by the end of fiscal 2024, ChargePoint stock tumbles after losses widen,...
Source: MarketWatch - 🏆 3. / 97 Read more »