EVgo jumps on upbeat Q2, CEO appointment

Evgo

03/08/2023 19:41

** Shares of electric-vehicle charging firm EVgo Inc
 EVGO.O  up 27.71% at $5.415
    ** Posts Q2 rev of $50.55 mln, up 457% YOY; also beats
analysts' est. of $29.59 mln - Refinitiv 
    ** Rev growth was primarily driven by year-over-year
increases in eXtend revenue and charging revenues- co
    ** Co reports Q2 loss of 8 cents per share, analysts were
estimating a loss of 27 cents per share
    ** Appoints Badar Khan as CEO, effective on or about Nov. 9
    ** Khan to succeed Cathy Zoi who will retire as CEO; Zoi
will serve as an adviser to co and work closely with Khan
through end of 2023
    ** EVGO shares up ~20% YTD

 (Reporting by Rupali Chaudhary in Bengaluru)
 ((Rupali.chaudhary@thomsonreuters.com))