By William Horobin
PARIS--Renault SA (RNO.FR) on Wednesday reported a 6.7% rise in
revenue and confirmed its guidance for the year as the French car
maker's growth in European markets offset declines in emerging
markets.
Revenue in the third quarter rose to EUR8.53 billion ($10.86
billion) from EUR8 billion a year earlier. Investors were expecting
third-quarter revenue of EUR8.19 billion, according to the average
forecast of five analysts polled by Factset.
"Positive business momentum in Europe offset declines in Renault
group's main emerging markets," the company said in a
statement.
Overall, Renault still expects an increase in revenue and
operating profit this year.
The car maker said it recorded a particularly strong performance
in the U.K., Italy, Spain and Portugal, while its market share
declined slightly in its home market.
Renault now expects the European car market to increase by 5%
this year, instead of 3% to 4% previously forecast.
But declines in car registrations were strong in the Americas
and in Russia, Renault said.
"Our main emerging markets should remain adverse and volatile in
the fourth quarter," the company said.
Write to William Horobin at william.horobin@wsj.com
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