Pras Subramanian

New York

Senior Autos Reporter at Yahoo Finance

Senior Autos Reporter @yahoofinance

Articles

We've raised nearly $700M from backers like Bezos for US-built EVs

6 days ago | finance.yahoo.com | Pras Subramanian

Electric vehicle startup Slate announced that the company isn’t done raising funds. Slate, which counts backers like Jeff Bezos and Guggenheim's Mark Walter as investors, has closed out its Series A and Series B funding and is now looking at a Series C. Prior to Thursday’s announcement, the company had reportedly raised around $110 million. “We've gone through a couple rounds of funding,” Slate CEO Chris Barman said to Yahoo Finance.
Carvana stock surges on strong Q1 earnings

6 days ago | finance.yahoo.com | Pras Subramanian

Carvana (CVNA) stock jumped more than 10% on Thursday, nearing a new 52-week high. Profits surged in the first quarter from consumers making their auto purchases to beat President Trump's tariffs to the punch. The used car dealer said it expects the strong buying to continue. Carvana CEO Ernie Garcia acknowledged tariffs are bad because, obviously, the levies boost prices and create uncertainty. But, he added, a company like Carvana could benefit.
Carvana stock surges on strong Q1 earnings

6 days ago | ca.finance.yahoo.com | Pras Subramanian

Carvana (CVNA) stock jumped more than 10% on Thursday, nearing a new 52-week high. Profits surged in the first quarter from consumers making their auto purchases to beat President Trump's tariffs to the punch. The used car dealer said it expects the strong buying to continue. Carvana CEO Ernie Garcia acknowledged tariffs are bad because, obviously, the levies boost prices and create uncertainty. But, he added, a company like Carvana could benefit.
Carvana stock surges on strong Q1 earnings

6 days ago | sg.finance.yahoo.com | Pras Subramanian

Carvana (CVNA) stock jumped more than 10% on Thursday, nearing a new 52-week high. Profits surged in the first quarter from consumers making their auto purchases to beat President Trump's tariffs to the punch. The used car dealer said it expects the strong buying to continue. Carvana CEO Ernie Garcia acknowledged tariffs are bad because, obviously, the levies boost prices and create uncertainty. But, he added, a company like Carvana could benefit.
Carvana shares surge on strong Q1 earnings

6 days ago | finance.yahoo.com | Pras Subramanian

Carvana (CVNA) stock jumped more than 10% on Thursday, nearing a new 52-week high. Profits surged in the first quarter from consumers making their auto purchases to beat President Trump's tariffs to the punch. The used car dealer said it expects the strong buying to continue. Carvana CEO Ernie Garcia acknowledged tariffs are bad because, obviously, the levies boost prices and create uncertainty. But, he added, a company like Carvana could benefit.
Ferrari's luxury game plan takes on Trump's auto tariffs

1 week ago | finance.yahoo.com | Pras Subramanian

Luxury automakers like Ferrari (RACE) may be insulated from tariff-fueled price hikes due to their ultra-high-net-worth (UHNW) clientele, but even those well-heeled buyers may have their limits. Typically, UHNW buyers aren’t dissuaded by price hikes; when demand for a product is strong or in limited supply — for instance, during the pandemic — they are willing to pay premiums for products like Rolex watches, fine scotches, and of course, Ferrari sports cars.
Stock drops despite upbeat current quarter guidance

1 week ago | finance.yahoo.com | Pras Subramanian

Uber (UBER) reported mixed first quarter results but forecast a strong current quarter outlook, indicating its business was still going strong in light of concerns about the overall economy. However, shares were still lower in premarket trading. Uber reported Q1 gross bookings of $42.8 billion vs. estimates of $43.1 billion, per Bloomberg consensus, up 18% on a constant currency basis. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) came in at $1.9 billion vs.
Stock drops despite upbeat current quarter guidance

1 week ago | ca.finance.yahoo.com | Pras Subramanian

Uber (UBER) reported mixed first quarter results but forecast a strong current quarter outlook indicating its business was still going strong in light of concerns over the overall economy, though shares were still lower in pre-market trade. Uber reported Q1 Gross Bookings of $42.8 billion vs $43.14 billion per Bloomberg consensus, up 18% on a constant currency basis. Adjusted EBITDA (adjusted earnings before interest, taxes, depreciation and amortization), came in at $1.9 billion vs.
EV maker achieves Q1 gross profit, but sees at least $150M capex rise fueled by tariffs

1 week ago | finance.yahoo.com | Pras Subramanian

Rivian (RIVN) reported better-than-expected first quarter results on Tuesday and posted a second straight quarter of gross profits, but President Trump's tariffs on auto parts will push the pure-play EV maker's capital expenditures higher. Rivian stock was down slightly in after-hours trade following the announcement. "This quarter we hit our second consecutive gross profit and our highest gross profit to date at $206 million," CEO RJ Scaringe said in a statement.
Will tariffs push Rivian deeper into the red?

1 week ago | finance.yahoo.com | Pras Subramanian

Rivian (RIVN) will report first quarter earnings after the bell on Tuesday as the pure-play EV maker shows investors whether it is still on the long path toward profitability as President Trump's tariffs on auto parts start to bite. For the quarter, Rivian is expected to report revenue of $981.21 million, a steep drop compared to the $1.73 billion reported last quarter and the $1.204 billion a year ago.