What the bad jobs report means for markets
SINGAPORE -On Thursday VinFast Auto Ltd. (NASDAQ:VFS) reported first quarter earnings that fell short of analyst expectations, while revenue surged significantly year-over-year.
The company’s stock rose 1.86% in premarket trading following the announcement.
VinFast posted an adjusted loss per share of -$0.54 for the first quarter, missing the analyst estimate of -$0.26 by $0.28. Revenue for the quarter came in at $677.89 million, below the consensus estimate of $716.23 million, but representing a substantial 270% increase compared to the same period last year.
Despite missing analyst projections, the company’s revenue growth highlights its expanding presence in the electric vehicle market.
VinFast, which went public in August 2023 through a SPAC merger, has been working to establish itself as a global electric vehicle manufacturer. The company’s performance in the coming quarters will be closely watched as it continues to ramp up production and expand into new markets.
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