Blink Charging Q4 Earnings: Revenue and EPS Beat, Strong FY24 Outlook and More
Portfolio Pulse from Erica Kollmann
Blink Charging Co. (NASDAQ:BLNK) reported Q4 financial results with losses of 28 cents per share, beating analyst estimates. Q4 sales were $42.71 million, surpassing estimates and showing an 88.94% increase year-over-year. Product sales rose 112%, and service revenues increased 40%. The company deployed 5,100 charging stations in Q4 and anticipates 2024 revenues of $165 million to $175 million. Shares dropped 2.04% after-hours.
March 14, 2024 | 8:30 pm
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NEGATIVE IMPACT
Blink Charging reported better-than-expected Q4 earnings and revenue, with significant growth and a strong outlook for 2024. Shares fell 2.04% after-hours.
Despite beating Q4 earnings and revenue estimates and showing significant growth, BLNK shares fell after-hours. This drop could be due to market reactions to the after-hours earnings report or possibly investors taking profits. The strong growth and positive outlook for 2024 indicate underlying strength, but the immediate market reaction was negative.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100