BMW 3Q Profit Rose as Efficiency Measures Kick In

Date : 11/06/2019 @ 7:22AM
Source : Dow Jones News
Stock : Bayerische Motoren Werke AG (BMW)
Quote : 45.515  -1.785 (-3.77%) @ 4:30PM
Bayerische Motoren Werke share price Chart

BMW 3Q Profit Rose as Efficiency Measures Kick In

Bayerische Motoren Werke (XE:BMW)
Historical Stock Chart

6 Months : From Sep 2019 to Mar 2020

Click Here for more Bayerische Motoren Werke Charts.
  By Max Bernhard 
 

BMW AG (BMW.XE) on Wednesday reported a jump in third-quarter earnings, and its finance chief said the car maker's efficiency measures are bearing fruit.

Earnings before interest and taxes rose 33% to 2.29 billion euros ($2.54 billion), while revenue rose 7.9% to EUR26.67 billion, the German luxury car maker said.

"The efficiency-boosting measures we have implemented are bearing fruit," said Chief Financial Officer Nicolas Peter. The company is performing at a high level compared with its rivals and considering challenging conditions in the auto sector, he added.

Net profit rose to EUR1.52 billion from EUR1.36 billion a year earlier.

In the automotive segment, BMW's closely watched EBIT margin rose to 6.6% in the quarter from 4.4% a year ago.

 

Write to Max Bernhard at max.bernhard@dowjones.com; @mxbernhard

 

(END) Dow Jones Newswires

November 06, 2019 02:07 ET (07:07 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
$
Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:us D:20200328 16:05:20