BMW: share down after unsurprising Q3

(CercleFinance.com) - BMW's share is down in the dumps in Frankfurt on Thursday, after the group announced unsurprising Q3 results.


Operating profit increased 63% to 2.87 billion euros over the period - impressive - although in line with the 2.86 billion euros expected by analysts.

Although it improved to 8.9% in the quarter, from 7.8% a year ago, the operating margin of its automotive activities fell short of the consensus of 9.1%.

Meanwhile, revenues increased 35.3% to 37.17 billion euros, thanks to a jump in sales of its Chinese joint venture BMW Brilliance Automotive, now consolidated in the accounts.

The premium carmaker confirmed its 2022 targets and said that it expects to achieve an operating margin of 7% to 9% in its automotive business, just under the consensus of 9.2%.

In early trading the share was down almost 3%, underperforming the index in Frankfurt by about 1%, with investors hoping that BMW increased its FY targets.


Copyright (c) 2022 CercleFinance.com. All rights reserved.