ChargePoint stock rallies 6% after Q4 sales beat expectations

ChargePoint Holdings Inc.
CHPT,
-1.54%

stock rose more than 6% in the extended session Wednesday after the electric-vehicle charging network company reported quarterly sales above expectations and called for higher yearly revenue. ChargePoint said it lost $60.5 million, or 23 cents a share, in the fourth quarter, compared with a loss of $91 million, or $5.31 a share, in the year-ago quarter. Revenue rose 90% to $81 million, the company said. FactSet consensus called for a loss of 16 cents a share on sales of $76 million. The company guided for full fiscal-year revenue between $450 million and $500 million. Analysts surveyed by FactSet expect revenue to hit $379 million.