Stock market today: Stocks fall as investors rotate out of tech into Jackson Hole
Investing.com -- Visteon Corporation (NASDAQ:VC) reported first-quarter earnings on Thursday that surpassed analyst expectations, driving its stock up 5% in response to the positive results.
The automotive technology company posted adjusted earnings per share of $2.36, beating the analyst consensus of $1.81 by $0.55.
Revenue for the quarter came in at $934 million, exceeding the estimated $909.78 million and remaining relatively flat compared to $933 million in the same quarter last year.
Visteon demonstrated strong market outperformance, with sales growth 10% above customer vehicle production rates.
This outperformance was primarily driven by the ramp-up of recent product launches for digital cockpit products.
The company’s gross margin for the quarter stood at $138 million, while adjusted EBITDA reached $129 million.
Despite the strong quarterly performance, Visteon withdrew its full-year 2025 guidance due to uncertainties in the automotive industry related to evolving tariff dynamics.
The company plans to update its guidance once visibility improves.
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