Fisker Q2 Highlights: Its First Quarter With Automotive Sales Revenue, 7.5% Gross Margin, Reduced 2023 Production Outlook & More
Portfolio Pulse from Shivani Kumaresan
Fisker Inc (NYSE:FSR) reported Q2 FY23 sales of $825,000, missing the analyst consensus of $20.4 million. This marks Fisker's first quarter with automotive sales revenue. The company also reduced its 2023 production outlook to 20,000-23,000 units due to a key supplier requiring additional time to ramp their capacity. Fisker's shares are trading lower by 5.70%.
August 04, 2023 | 3:48 pm
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Fisker's Q2 FY23 sales missed analyst consensus and the company reduced its 2023 production outlook, leading to a drop in its share price.
Fisker's lower than expected Q2 FY23 sales and reduced 2023 production outlook are likely to negatively impact investor sentiment, leading to a decrease in its share price in the short term.
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