Wednesday, October 25, 2017

Fiat Chrysler''s net profit goes up 50% and surpasses estimates

Milan (Reuters)-Fiat Chrysler Automobiles (FCA) recorded a jump of net profit of 50% in the third quarter, surpassing analysts '' estimates, helped by a strong performance in the important North American market and the improvement in operations in Europe and Latin America.
The world''s seventh largest automaker said net profit for the period from July to September rose to 910 million euros (1.1 billion dollars), up from 606 million euros in the same period last year. Analysts had expected a profit of 808 million euros, according to a survey by Thomson Reuters.
Adjusted earnings before interest and taxes (Ebit) in the period increased by 17%, while revenue fell 2% to 26.4 billion euros, both in line with expectations.
The company confirmed its guidance for the full year.
Reuters – 24/10/2017
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