Fisker reports wider-than-expected losses, underwhelming deliveries for the third quarter
Publishing timestamp: 2023-11-13 17:06:32
Summary
Electric vehicle startup Fisker reported a wider-than-expected loss in the third quarter and delivered fewer Ocean electric SUVs than anticipated. However, deliveries have accelerated since the end of the quarter. Fisker's shares dropped over 10% in after-hours trading. The company's net loss for the quarter was $91 million, and revenue was $71.8 million. Fisker had $625 million in cash and cash equivalents on hand. The company did not update its production guidance for the full year.
Sentiment: NEGATIVE
Tickers: FSR, 2354-TW, MGA, MG-CA,
Keywords: business, foxconn technology co ltd, climate, transportation, fisker inc, business news, breaking news: business, breaking news: technology, technology, magna international inc, earnings,
Source: https://www.cnbc.com/2023/11/13/fisker-fsr-earnings-report-q3-2023.html