EV charging network operator EVgo on Wednesday reported second-quarter revenue that beat Wall Street's expectations and posted a narrower-than-expected loss, as more electric vehicle drivers used its network and revenue from its private-label eXtend unit boomed.
8 cents vs. 27 cents expected.
Revenue: $50.6 million vs. $29.6 million expected.
A year ago, EVgo reported a profit of $17 million, or 6 cents per share, on revenue of $9.1 million.
Revenue from eXtend totaled about $33.3 million in the second quarter, or nearly 66% of EVgo's total revenue for the period.
Persons:
EVgo, Cathy Zoi, Zoi, Badar Khan
Organizations:
Wall Street, Refinitiv, Revenue, EV, General Motors, National Grid's