What happened 

Shares of electric-vehicle (EV) charging-infrastructure company Blink Charging (NASDAQ:BLNK) fell as much as 10.4% in trading Friday after reporting third-quarter 2020 earnings. Shares of this growth stock closed the week down 7.1% for the day. 

So what

Third-quarter revenue was up 18% from a year ago to $0.9 million, and net loss was $3.9 million, or $0.12 per share. This fell well below the $1.8 million in revenue and $0.09 loss per share that analysts expected.

Electric vehicle charger plugged into an outlet.

Image source: Getty Images.

Management said that product sales increased by 74% to $0.6 million as 668 EV charging stations were sold, deployed, or acquired. But the slowdown in business activity across the U.S. has slowed the company's growth. Third-quarter growth looks particularly weak when compared to 84% revenue growth for the first nine months of 2020. 

Now what

There are going to be ups and downs in a new business like EV charging, and this is one of the down quarters. But the adoption of electric vehicles is picking up. When more people return to work, I think demand will pick up as well. For long-term investors, this is just a buying opportunity, and I don't see any major reason to change your investment thesis after one quarter that fell short of Wall Street's guess at earnings. 

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.