2023-04-12 06:31:46 ET
Swedish truck manufacturer Volvo ( OTCPK:VOLAF ) reported a record Q1 profit on Wednesday.
The vehicle manufacturer posted preliminary SEK 131.4B ($12.64B) and adjusted operating income to SEK 18.4B ($1.77B). Operating margin expanded by 200 basis points year over year despite persistent supply chain problems in the quarter.
Forward-looking guidance was not provided in Wednesday's preliminary announcement. Stockholm-listed shares of Volvo ( OTCPK:VLVLY ) rose 8.28% in afternoon trading on Wednesday.
Dig into the company’s valuation .
For further details see:
Volvo stock pops on record quarterly profit