Volkswagen revenue jumps on growth in Europe, North America

BERLIN (Reuters) – Volkswagen (ETR:) reported a rise in revenue of 22% to 76 billion euros ($84.22 billion) but saw a drop in operating profit to 5.7 billion euros, after last year’s first quarter profit was boosted by commodity hedging.

The carmaker said the rise in revenue was attributed largely to strong growth in Europe and North America, and confirmed its outlook for 2023.

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