Volvo Cars Q1 profit beats forecasts

2022.04.28 08:23

FILE PHOTO: An employee at a Volvo car dealer, wearing a protective mask is seen in a showroom, in Brussels, Belgium, May 28, 2020. REUTERS/Yves Herman

STOCKHOLM (Reuters) – Volvo Cars reported on Thursday quarterly earnings above expectations and said it expected marginal growth in salesvolumes for the full year 2022 compared to 2021.

The Swedish carmaker’s first-quarter operating profit fell to 6.0 billion Swedish crowns ($607.4 million) from 8.4 billion a year ago. Four analysts polled by Refinitiv had on average forecast a 4.13 billion profit.

($1 = 9.8776 Swedish crowns)

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