CHPT - ChargePoint pares gain after CEO weighs in on Tesla-Ford partnership

2023-06-01 17:42:37 ET

ChargePoint Holdings ( NYSE: CHPT ) pared its post-earnings drop after CEO Pasquale Romano stated on the earnings conference call that the Tesla ( TSLA )-Ford ( F ) electric vehicle battery partnership is not necessarily bad for the company.

Romano said ChargePoint ( CHPT ) still believes it remains well positioned to take advantage of the inevitable long-term growth opportunity ahead.

For Q1 , ChargePoint ( CHPT ) showed a 59% gain in revenue to $130M. Networked charging systems revenue was up 65% and subscription revenue rose 49% to $26.4M.

Shares of ChargePoint ( CHPT ) showed a 5.33% decline at 5:38 p.m. after being down more than 8%.

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