Volta (NYSE: VLTA) , a company specializing in electric vehicle (EV) charging infrastructure, reported second-quarter 2022 earnings Thursday after the market closed that drove past analysts' top-line estimate. On Friday, investors are voicing their approval.
As of 3:01 p.m. ET, shares of Volta are up 12.6%.
Booking a 123% year-over-year increase, Volta reported Q2 2022 revenue of $15.3 million, surpassing analysts' estimates that the company would achieve sales of $13.5 million. While the company missed analysts' bottom-line estimate by $0.01, reporting earnings per share of negative $0.22, the company narrowed its loss considerably compared to the same period last year. In Q2 2021, Volta reported a loss per share of $1.09.
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Why Shares of Volta Are Powering Higher Today