Stock Market News

Volvo Cars Q2 operating earnings beat expectations

07/18/2024

Less than a minute

2024.07.18 01:21

STOCKHOLM (Reuters) – Swedish automaker Volvo (OTC:) Cars reported a significant beat in second-quarter operating earnings on Thursday, demonstrating resilience in an industry grappling with a weak electric vehicle (EV) market.

Volvo Cars’ operating income, which includes impact from its stake in loss-making Polestar (NASDAQ:), came to 8.0 billion compared to the 5 billion crowns it posted a year ago.

© Reuters. FILE PHOTO: Volvo reveals their new Volvo EX30 fully-electric small SUV vehicle during an event in Milan, Italy June 7, 2023. REUTERS/Claudia Greco/File Photo

This was above the 6.7 billion crowns expected by analysts polled by LSEG.

Volvo Cars said its operating income excluding joint ventures and associates rose to 8.2 billion Swedish crowns in the quarter from a year-ago 6.4 billion.

07/18/2024

Less than a minute

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