Polestar Publishes Full Year 2023 Results; FY23 Revenue $2.38B Vs $2.45B YoY
Portfolio Pulse from Benzinga Newsdesk
Polestar reported its full-year 2023 financial results, showing a 3% decrease in revenue to $2.38 billion compared to $2.45 billion in 2022. The company experienced a significant increase in operating loss, driven by higher costs and impairments.
June 28, 2024 | 12:15 pm
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Polestar's FY23 results show a 3% decrease in revenue to $2.38 billion and a significant increase in operating loss due to higher costs and impairments.
The decrease in revenue and significant increase in operating loss, driven by higher costs and impairments, are likely to negatively impact Polestar's stock price in the short term. Investors may react unfavorably to the higher-than-expected losses and increased expenses.
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