Kaixin Auto Reports 1H Revenue $18.9M Down From $33.3M YoY
Portfolio Pulse from Benzinga Newsdesk
Kaixin Auto reported a decrease in total net revenues for the first half of 2023, down to $18.9M from $33.3M YoY. However, the company's losses have improved, with a net loss of $4.5M, significantly less than the $70.6M loss in the first half of 2022.
November 03, 2023 | 8:02 pm
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NEUTRAL IMPACT
Kaixin Auto's revenues have decreased, but losses have improved significantly compared to the previous year.
While Kaixin Auto's revenues have decreased, the significant improvement in losses could be seen as a positive sign of better financial management. This could potentially offset the negative impact of decreased revenues in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100