Blink Charging Shares Rise 27% as Company Raises 2023 Revenue Guidance

By Stephen Nakrosis

Shares of Blink Charging were higher on the Nasdaq on Friday, a day after the company reported its third-quarter financial results and raised its 2023 revenue target.

At 1:56 p.m. ET, the company’s stock had risen 27%, to $3.13 a share. Volume at the time topped 16 million shares, above the stock’s 65-day average volume of some 2 million shares.

After the bell Thursday, the provider of electric vehicle charging equipment and services reported a third-quarter loss per share of $1.74 on revenue of $43.3 million. In the year-ago period, the company reported a loss per share of 51 cents on revenue of $17.2 million.

In the first nine months of this year, the company generated $98 million in revenue, ahead of its full year 2022 revenue of $61.1 million, Blink said.

The company said it is expecting 2023 revenue in a range of $128 million to $133 million. Previously, the company said it was expecting 2023 revenue in a range of $110 million to $120 million.

Write to Stephen Nakrosis at [email protected]

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