Blink Charging Shares Rise 4.4% on 4Q Revenue Surge

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Blink Charging Shares Rise 4.4% on 4Q Revenue Surge

Dow Jones2023-03-01

Blink Charging Co. shares rose 4.4% to $9.45 in after-market trading Tuesday following a surge in revenue in the latest quarter, reflecting demand for its products as consumer interest in electric vehicles grows.

The EV charging equipment operator posted revenue of $22.6 million for the fourth quarter ended Dec. 31 compared to roughly $8 million a year earlier. Analysts polled by FactSet expected $19.4 million.

The company said 7,571 charging stations were contracted, deployed or sold in the quarter, an 86% increase from the prior-year period.

Blink is targeting revenue between $100 million and $110 million for full year 2023, said Chief Executive Michael Farkas. Analysts polled by FactSet forecast $95.6 million in revenue for the year.

Shares, which closed down 0.1% to $9.05, are down 63% over the last 12 months.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

February 28, 2023 17:10 ET (22:10 GMT)

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TKY1978
·2023-03-01
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·2023-03-01
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·2023-03-01
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·2023-03-01
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