EVgo, Inc. (EVGO) shares are gaining more than 13 percent on Wednesday morning trade after reporting an 83 percent increase in revenues that beat estimates.
The electric vehicle charging solutions provider reported quarterly revenue of $49.99 million, compared to $27.303 million last year. Analysts were looking for $44.03 million.
For 2024, the company expects revenues in a range of $220-$270 million, while analysts are projecting 260.86 million.
Currently, shares are at $3.15, up 13.48 percent from the previous close of $2.78 on a volume of 4,928,820.
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