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Volvo Cars jumps 7% after reporting a record core operating profit

Pelican Press

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Volvo Cars jumps 7% after reporting a record core operating profit

A worker at a Volvo car store introduces the Volvo xc60 and other models via a live streaming in Shanghai, China, March 18, 2024.

Cfoto | Future Publishing | Getty Images

Shares of Volvo Cars rose sharply on Thursday after the company reported a jump in annual operating profit for the second quarter.

By 8:30 a.m. London time shares had rise by 7.35%. Core operating profit for the quarter came in at 8.2 billion Swedish kronor ($776 million), 28% higher than in the same quarter a year earlier, the company said in a statement.

This was the highest ever figure for one individual quarter, the carmaker said.

This is a developing story that will be updated.



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