Volkswagen Backs 2019 View After 2Q Earnings Rose
July 25 2019 - 2:14AM
Dow Jones News
By Max Bernhard
Volkswagen AG (VOW.XE) said Thursday that second-quarter
earnings rose by about a third and backed its guidance for the
year.
Operating profit rose in the quarter rose 30% to 5.13 billion
euros ($5.72 billion), while after-tax profit rose 24% to EUR4.12
billion, the German car maker said. Sales revenue rose 6.6% to
EUR65.19 billion.
Analysts had expected an operating profit of EUR5.03 billion and
revenue of EUR62.35 billion, according to a consensus estimate
provided by FactSet.
In the same period last year, Volkswagen took a EUR1.6 billion
charge related to its diesel-emissions scandal.
Volkswagen confirmed its 2019 guidance, forecasting sales to
rise as much as 5% and an operating return on sales between 6.5%
and 7.5%, before special items.
Write to Max Bernhard at max.bernhard@dowjones.com;
@mxbernhard
(END) Dow Jones Newswires
July 25, 2019 01:59 ET (05:59 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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