Blink Charging Q3 Earnings: Revenue Miss, Product Sales Slump, 2024 Outlook Cut & More

Benzinga11-08

Blink Charging Co. (NASDAQ:BLNK) reported its third-quarter financial results Thursday after the bell. The stock is down 8% premarket Friday as it revised its fiscal 2024 outlook. Q3 Earnings: Blink ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2481702121?lang=en_US&edition=fundamental","thumbnail":"https://s.yimg.com/uu/api/res/1.2/7EfrJs8Yxoi47TYDR5.oGg--~B/aD01NzY7dz0xMDI0O2FwcGlkPXl0YWNoeW9u/https://media.zenfs.com/en/Benzinga/306378bf6a49ca94037adb83535912b4","is_english":true,"pubTime":"2024-11-08 21:08","share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","id":"2481702121","market":"us","top_or_hot":-1,"title":"Blink Charging Q3 Earnings: Revenue Miss, Product Sales Slump, 2024 Outlook Cut & More","media":"Benzinga","content":"<div>\n<p>Blink Charging Co. (NASDAQ:BLNK) reported its third-quarter financial results Thursday after the bell. The stock is down 8% premarket Friday as it revised its fiscal 2024 outlook.\nQ3 Earnings: Blink ...</p>\n\n<a href=\"https://finance.yahoo.com/news/blink-charging-q3-earnings-revenue-130859574.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Blink Charging Q3 Earnings: Revenue Miss, Product Sales Slump, 2024 Outlook Cut & More</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBlink Charging Q3 Earnings: Revenue Miss, Product Sales Slump, 2024 Outlook Cut & More\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-08 21:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/blink-charging-q3-earnings-revenue-130859574.html><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Blink Charging Co. (NASDAQ:BLNK) reported its third-quarter financial results Thursday after the bell. The stock is down 8% premarket Friday as it revised its fiscal 2024 outlook.\nQ3 Earnings: Blink ...</p>\n\n<a href=\"https://finance.yahoo.com/news/blink-charging-q3-earnings-revenue-130859574.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BLNK","symbol_name":"Blink Charging","start_time":0,"source_url":"https://finance.yahoo.com/news/blink-charging-q3-earnings-revenue-130859574.html","article_id":"2481702121","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/7EfrJs8Yxoi47TYDR5.oGg--~B/aD01NzY7dz0xMDI0O2FwcGlkPXl0YWNoeW9u/https://media.zenfs.com/en/Benzinga/306378bf6a49ca94037adb83535912b4"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2481702121","pubTimestamp":1731071339,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Blink Charging Co. reported its third-quarter financial results Thursday after the bell. The stock is down 8% premarket Friday as it revised its fiscal 2024 outlook.Q3 Earnings: Blink Chargingreported third-quarter revenue of $25.19 million, down by 41.9% year-on-year, missinganalyst consensus estimatesof $35.50 million.Also Read: Lucid Opens Orders for New Gravity SUV, Taking Aim at Tesla’s Model X. The company reported an adjusted loss of 16 cents per share, beating analyst consensus estimates for a loss of 17 cents per share.Product revenue was $13.45 million, down from $35.06 million in the prior year’s quarter. Service revenue increased 30% year-over-year to $8.75 million, primarily driven by the expansion of its global network of Blink-owned chargers and the corresponding demand for charging and networked services. Other revenue increased 88.6% year-over-year to $2.99 million.Blink Chargingcontracted, deployed, or sold 6,978 charging stations in the quarter. Since its inception, ","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"BLNK":"Blink Charging"},"translate_title":"Blink Charging第三季度收益：收入未达预期、产品销售下滑、2024年前景下调等","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BLNK":1},"content_text":"Blink Charging Co. (NASDAQ:BLNK) reported its third-quarter financial results Thursday after the bell. The stock is down 8% premarket Friday as it revised its fiscal 2024 outlook.\nQ3 Earnings: Blink Charging reported third-quarter revenue of $25.19 million, down by 41.9% year-on-year, missing analyst consensus estimates of $35.50 million.\nAlso Read: Lucid Opens Orders for New Gravity SUV, Taking Aim at Tesla’s Model X\nThe company reported an adjusted loss of 16 cents per share, beating analyst consensus estimates for a loss of 17 cents per share.\nProduct revenue was $13.45 million, down from $35.06 million in the prior year’s quarter. Service revenue increased 30% year-over-year to $8.75 million, primarily driven by the expansion of its global network of Blink-owned chargers and the corresponding demand for charging and networked services. Other revenue increased 88.6% year-over-year to $2.99 million.\nBlink Charging contracted, deployed, or sold 6,978 charging stations in the quarter. Since its inception, it has surpassed 105,000 chargers contracted, deployed, and sold globally.\nThe gross margin expanded by 700 bps to 36%, primarily due to a shift in the sales mix.\nThe company ended the quarter with $64.6 million in cash and equivalents, down from $121.7 million on December 31, 2023.\nOutlook: Blink Charging lowered its full-year 2024 revenue guidance to $125 million—$135 million (prior $145 million—$155 million) versus $146.16 million consensus.\nThe company expects to achieve positive adjusted EBITDA in the second half of 2025. Blink Charging recently updated its timeline to achieve positive adjusted EBITDA during 2025. \nIn September, Blink Charging announced plans to cut around 14% of its global workforce to lower operational expenses.\nIn August, Blink Charging revealed that President & CEO Brendan Jones will retire on January 31, 2025, with Michael (Mike) Battaglia set to take over as President & CEO starting February 1, 2025.\nBlink Charging stock plunged 37% year-to-date.\nPrice Action: BLNK stock is down 7.96% at $1.84 premarket at last check Friday.\nPhoto courtesy: Blink Charging\nAlso Read:\n\nAT&T Buys $1 Billion in Spectrum Licenses from US Cellular to Boost Network Reach\n\nUp Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market.\nGet the latest stock analysis from Benzinga?\n\nThis article Blink Charging Q3 Earnings: Revenue Miss, Product Sales Slump, 2024 Outlook Cut & More originally appeared on Benzinga.com\n© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-2","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2481702121"}