Volkswagen Q3 Earnings Climb - Quick Facts

(RTTNews) - Volkswagen Group (VKW.L, VLKAF.PK, VOW.BE) reported that its third quarter earnings after tax climbed to 4.35 billion euros from 2.14 billion euros in the prior year.

Quarterly operating result before special items was 4.89 billion euros up from 4.26 billion euros in the prior year.

Sales revenue for the third quarter grew to 78.85 billion euros from 70.67 billion euros in the prior year.

Quarterly vehicle deliveries increased by 7.4 percent year-on-year to 2.34 million units.

Volkswagen updated its outlook for fiscal year 2023 on 20 October 2023. The company continues to anticipate that deliveries to customers will stand between 9 million vehicles and 9.5 million vehicles. Volkswagen continues to expect Group sales revenue to be 10 to 15 percent higher than the prior-year figure.

The company expects operating result for the full year 2023 to be around the level of the previous year before special items, which was around 22.5 billion euros. Previously, it was expected that annual operating return on sales to be between 7.5 percent and 8.5 percent.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com