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Blink Earnings: BLNK Stock Charges Up 8% on Strong Q2 Revenue

Blink (NASDAQ:BLNK) earnings for the electric vehicle charging company’s second quarter of 2020 have BLNK stock heading higher after-hours Thursday. That’s despite its diluted losses per share of 11 cents just missing Wall Street’s estimate of 10 cents. Luckily, its revenue of $1.6 million is well above analysts’ estimate of $1.23 million.

a blink (BLNK) charging station

Source: David Tonelson/Shutterstock.com

Here’s what else is worth mentioning from the most recent Blink earnings report.

  • Diluted per-share losses of 11 cents are 22.2% wider compared to 9 cents during the same time last year.
  • Revenue of $1.6 billion is up more than 128% from $0.7 million in 2019.
  • The Blink earnings also have it reporting a net loss of $3 million in Q2 2020.
  • That’s a 36.4% worse result than the $2.2 million net loss from the same period of the year prior.

Michael Farkas, founder and CEO of Blink, said the following in the current earnings report.

“We are pleased that revenue for the first half of 2020 has already surpassed our revenue for all of 2019, driven by the tremendous momentum being generated from marketplace interest in our product and service offerings. We are seeing more and larger opportunities across the business as host locations, strategic partners, EV drivers, and investors recognize the value of our portfolio of charging solutions.”

Blink doesn’t discuss guidance in its Q2 earnings report. Even so, we know what Wall Street is expecting. That includes diluted losses per share of 37 cents on revenue of $5.8 million.

BLNK stock was up 7.6% after-hours Thursday but closed out normal trading hours down 3.9%.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2020/08/blink-earnings-boost-blnk-stock-up/.

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