Mercedes-Benz Group Net Profit, Revenue Decline on Lower Car Sales
By David Sachs
Mercedes-Benz Group said net profit and revenue for the first quarter fell on lower cars sales and supply-chain bottlenecks but confirmed its guidance for the full year.
The German luxury-car maker said net profit slipped to 3.025 billion euros ($3.24 billion) from EUR4.01 billion in the first quarter of last year. Analysts had expected net profit to finish the quarter at EUR2.73 billion, according to the Visible Alpha consensus.
Revenue fell to EUR35.87 billion from EUR37.52 billion in the first quarter of last year. Car sales fell 8% to 462,978, the company said.
Mercedes-Benz backed its 2024 guidance.
Write to David Sachs at david.sachs@wsj.com
(END) Dow Jones Newswires
April 30, 2024 01:30 ET (05:30 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
Six Sports Betting and iGaming Stocks Trading at a Discount
-
4 Predictions for Stocks and the Economy for the Second Half of 2024
-
What Broadening Rally? AI Stocks Dominate Again In Q2
-
After Earnings, Is Nike Stock a Buy, a Sell, or Fairly Valued?
-
Worst-Performing Stock ETFs of the Quarter
-
Top-Performing Stock ETFs of the Quarter
-
Q2 In Review and Q3 2024 Market Outlook
-
5 Stocks to Buy for 3Q 2024
-
Industrials: Sector Offers Investment Opportunities as Performance Lags Broader Market
-
Consumer Defensives: Even Amid Macro Pressures, Deals Permeate the Landscape
-
33 Undervalued Stocks
-
Utilities: Can the Stocks Keep the Rally Going?
-
Basic Materials: Following Index Decline, We See Many Long-Term Opportunities
-
Healthcare: Valuations Look Attractive In Most Industries
-
Financial Services: Amid Uncertainties, We See the Most Value In Banks and Credit Services
-
Consumer Cyclicals: Even With Anxiety Over Spending, We See Attractive Valuations