: ChargePoint’s stock dips on widening loss, revenue miss
ChargePoint Holdings Inc.’s CHPT stock declined 1% in after-hours trading Wednesday after the network of electric-vehicle charging stations posted quarterly results. ChargePoint reported a fiscal third-quarter net loss of $158.2 million, or 43 cents a share, compared with a net loss of $84.5 million, or 25 cents a share, in the year-ago quarter. Revenue sank 12% to $110.3 million from $124.3 million a year ago. Analysts surveyed by FactSet had expected on average revenue of $124.9 million. Shares of ChargePoint have cratered 78.5% this year, while the broader S&P 500 index SPX has increased 19%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.