{"id":84168,"date":"2023-11-13T21:57:05","date_gmt":"2023-11-14T02:57:05","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/fiskers-stock-tanks-14-after-ev-maker-widens-loss-revenue-comes-in-below-estimates\/"},"modified":"2023-11-13T21:57:07","modified_gmt":"2023-11-14T02:57:07","slug":"fiskers-stock-tanks-14-after-ev-maker-widens-loss-revenue-comes-in-below-estimates","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=84168","title":{"rendered":"Fisker\u2019s stock tanks 14% after EV maker widens loss, revenue comes in below estimates"},"content":{"rendered":"
\n

Fisker Inc. shares plunged around 14% in the after-hours session Monday after the electric-vehicle maker widened its quarterly loss and reported sales that missed the mark, underscoring the difficulties of turning a profit in the EV world. <\/p>\n

Fisker
\n FSR,
\n +7.03%<\/bg-quote>
\n lost $91 million, or 27 cents a share, in the third quarter, compared with a loss of $149.3 million, or 49 cents a share, in the year-ago period. <\/p>\n

\n

Revenue rose to $71.8 million, from $14,000 a year ago and $825,000 in the second quarter. <\/p>\n

Analysts polled by FactSet expected Fisker to report a loss of 23 cents a share on sales of $143.1 million. <\/p>\n

Fisker kept its guidance for 2023 operating expenses and capital expenditures unchanged, between $565 million and $640 million, but removed language about gross margins. <\/p>\n

See also: <\/strong>Tesla\u2019s Cybertruck contract restricts reselling vehicle within the first year<\/p>\n

In August, the company said it expected gross margins between 8% and 12% for the year, \u201cprovided input costs do not change dramatically.\u201d<\/p>\n

The EV maker said the third quarter was its first quarter \u201cwith meaningful automotive sales revenue.\u201d <\/p>\n

Fisker is often dubbed the \u201cApple of autos,\u201d and is focused on design and consumer interfaces while contracting out the manufacturing of cars. <\/p>\n

The company said it produced 4,725 vehicles and sold 1,097 in the quarter. Deliveries \u201chave accelerated as Fisker begins optimizing last-mile logistics and expanding its delivery infrastructure to achieve further scale effects in Q4 and beyond,\u201d the company said in a statement. <\/p>\n

\u201cOver 3,000 vehicles delivered globally to date and hundreds more en route to consumers,\u201d the company said.<\/p>\n

On Monday, Fisker said it lowered its Fisker Ocean prices in the U.S. for the first time since it introduced the trim pricing in 2020 and 2021. Fisker also adjusted pricing in Europe and Canada, narrowing the gap between two trims. <\/p>\n

Don\u2019t miss:<\/strong> Plug Power\u2019s stock extends losses as investors seek \u2018clarity\u2019 about going-concern warning<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Fisker Inc. shares plunged around 14% in the after-hours session Monday after the electric-vehicle maker widened its quarterly loss and reported sales that missed the mark, underscoring the difficulties of turning a profit in the EV world. Fisker FSR, +7.03% lost $91 million, or 27 cents a share, in the third quarter, compared with a […]<\/p>\n","protected":false},"author":1,"featured_media":84169,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-84168","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nFisker\u2019s stock tanks 14% after EV maker widens loss, revenue comes in below estimates | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Fisker Inc. shares plunged around 14% in the after-hours session Monday after the electric-vehicle maker widened its quarterly loss and reported sales\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=84168\" 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