VinFast Reports Unaudited Second Quarter 2023 Financial Results; Q2 EPS $(0.23) Vs $(0.25) YoY; Revenue $334.1M; Quarterly Vehicle Deliveries Were 9,535 Units
Portfolio Pulse from Benzinga Newsdesk
VinFast has reported its unaudited financial results for Q2 2023. The company's quarterly revenues reached $334.1M, a 131.2% increase from Q2 2022 and a 303.3% increase from Q1 2023. Vehicle sales were $314.6M, up 147.0% from Q2 2022 and 387.3% from Q1 2023. The company delivered 9,535 EVs, a 436% increase from Q1 2023. However, the company reported a net loss of $526.7M, though this is an improvement from previous quarters.
September 21, 2023 | 7:37 pm
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VinFast's Q2 2023 results show significant growth in revenues and vehicle sales, with a notable increase in EV deliveries. However, the company continues to operate at a loss, although the net loss has improved compared to previous quarters.
The significant increase in revenues, vehicle sales, and EV deliveries indicates strong demand for VinFast's products, which could drive the company's stock price up. However, the continued net loss could be a concern for investors, potentially limiting the stock's upside potential.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100