JVCKenwood reported fiscal Q3’21 (calendar Q4’20) revenues which improved by 6.2% year over year, beating analysts’ expectations by 12.6 percentage points. The firm’s automotive sector sales expanded by 13.3% on the back of increased car manufacturing while sales of media industry products fell. U.S. seaborne imports linked to the firm climbed 11.8% higher year over year in Q4’20. The firm’s recovery has lagged the industry more broadly, with total U.S. imports of auto and wireless audio products up by 31.0% year over year in Q4’20. Growth has been led by inMusic Brands, owner of Denon a...
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