ChargePoint Investors Are Pulling The Plug After The Close: What Happened?
Portfolio Pulse from Adam Eckert
ChargePoint Holdings Inc (NYSE:CHPT) reported Q2 revenue of $150.5 million, missing the consensus estimate of $153.24 million. The company also reported a quarterly loss of 35 cents per share. ChargePoint announced a reorganization of its operations, including a 10% workforce reduction, expected to result in annual operating expense savings of $30 million. The company's shares were down 11.19% after hours.
September 06, 2023 | 8:54 pm
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NEGATIVE IMPACT
ChargePoint's Q2 revenue missed estimates and the company announced a workforce reduction. The company's shares were down 11.19% after hours.
ChargePoint's lower than expected Q2 revenue and the announcement of a workforce reduction are likely to negatively impact investor sentiment, leading to a decrease in the company's share price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100