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German carmaker BMW reported weak financial results for the first quarter of 2019. Net profit, recorded in the amount of 561 million euros, fell over the year by 75%. Experts had expected it to fall even more - to 489 million euros. Pre-tax profit decreased by 78% compared to the same period last year, reaching 589 million euros. Revenues amounted to 22.46 billion euros, down over the year by 0.9%. Economists estimate that the figure was expected to be 22.13 billion euros. BMW financial statements for the quarter included funds in the amount of 1.4 billion euros, reserved to cover the risks associated with the European Commission's investigation of the possible introduction of emission reduction technologies by BMW, Daimler and Volkswagen automakers. The automotive division of BMW recorded a loss of 310 million euros, whereas a year earlier it reported a profit of 1.88 billion euros. During trading on Tuesday, BMW shares fell 1.2%.
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
Spain’s unemployment rose to 15.33% for the second quarter of 2020, according to Tuesday’s data from the National Statistics Institute amid the worsening COVID-19 situation in the country. The unemployment rate surged past the ...
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