EVgo rallies in premarket trading after reports narrower-than-expected loss and beats revenue forecast
EVgo Inc.'s stock (EVGO) was up by 16.5% in premarket trading on Wednesday after the electric-vehicle charging company reported a narrower-than-expected loss and beat its revenue estimate. EVgo's third-quarter loss narrowed to $9.72 million, or 9 cents a share, from a loss of $13.22 million, or 19 cents a share in the year-ago quarter. The company's loss of 9 cents a share beat the FactSet consensus estimate for a loss of 20 cents a share. EVgo's third-quarter revenue more than tripled to $35.1 million from $10.51 million in the year-ago quarter and beat the $29.8 million analyst estimate. For full-year 2023, EVgo expects revenue of $148 million to $158 million, well ahead of the FactSet consensus estimate of $140 million.
-Steve Gelsi
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
11-08-23 0742ET
Copyright (c) 2023 Dow Jones & Company, Inc.-
What’s the Difference Between the CPI and PCE Indexes?
-
Micron Earnings: Great Guidance but Stock Now Looks Fairly Valued
-
August PCE Report Forecasts Show More Good News on Inflation
-
AI Stocks May Be Down, but Don’t Count Them Out
-
4 Stocks to Buy as the Fed Cuts Interest Rates
-
Markets Brief: The Uncertain Path to Neutral Interest Rates
-
What’s Happening in the Markets This Week
-
Where Top Stock Fund Managers Are Looking Next After the Fed Rate Cut
-
Our Top Pick for Investing in US Renewable Energy
-
Undervalued by 25% and Yielding 5%, This Stock Is a Buy
-
Can AI Predict Future Stock Returns?
-
The Best Energy Stocks to Buy Now
-
10 Undervalued Wide-Moat Stocks
-
Obesity Drugs: Can New Firms Take Market Share From Eli Lilly and Novo Nordisk?
-
New 4-Star Stocks
-
Intel Fair Value Left Unchanged Despite Qualcomm Takeover Talk