Volkswagen Q1 Profits Rise
VW’s stocks went up, but VW’s stock went down. 🤔
VW Group announced Q1 profits jumped to 13.5% from 7.7% in the same quarter of 2021. The company reported $9.3B in profit but a 16% decline in share value since the beginning of the year.
Raw value. Surging raw material prices played a significant part in the boost. The non-cash revaluation of commodity hedges like nickel shielded the company against volatile costs.