Get 40% Off
These stocks are up over 10% post earnings. Did you spot the buying opportunity? Our AI did.Read how

Volvo first-quarter profit in line with forecast, raises North America outlook

Published 25/04/2014, 06:31

STOCKHOLM (Reuters) - World number two truck maker Volvo ST:VOLVb posted a rise in quarterly core earnings in line with expectations on Friday as firmer demand in its main markets offset lingering costs for a vast renewal of its model range and fierce currency headwinds.

Volvo, Sweden's biggest company by sales and top private sector employer, also raised its outlook for the North American truck market and said it would raise production there slightly, but lowered its guidance somewhat for the Brazilian market.

The company, vying for market leadership with Germany's Daimler DE:DAIGn, said first-quarter operating earnings excluding restructuring charges rose to 2.59 billion Swedish crowns from a year-ago 496 million, roughly on par with a mean forecast 2.52 billion in a Reuters poll of analysts.

(Reporting by Niklas Pollard and Johannes Hellstrom)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.