Shares of Blink Charging Co. (NASDAQ:BLNK) slipped in after-hours trading after the company reported earnings for its first quarter of Fiscal Year 2023. Earnings per share came in at -$0.49, which missed analysts’ consensus estimate of -$0.44 per share. Sales increased by 121.4% year-over-year, with revenue hitting $21.7 million. This missed analysts’ expectations of $22.05 million.
Blink Charging offered some data which proved to be somewhat mixed. Service revenues–a field that covers a string of revenue streams ranging from network fees to ride-sharing–were up 216%, reaching a total of $4.8 million. However, earnings before interest, taxes, depreciation, and amortization were down substantially, going from -$12.4 million a year ago to -$17.8 million this year.
Management also offered some projections, looking for revenue to be between $100 million to $110 million for the full year compared to analyst projections calling for $103.93 million.
Overall, Wall Street has a consensus price target of $20.60 on Blink Charging stock, implying 183.75% upside potential, as indicated by the graphic above.
