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.-
These Stocks Are (Still) Powering the Bull Market
-
5 Undervalued Energy Stocks to Play the AI Data Center Demand Boom
-
After Earnings, Is Lowe’s Stock a Buy, Sell, or Fairly Valued?
-
5 Stocks With the Largest Fair Value Estimate Cuts After Q1 Earnings
-
10 Stocks With the Largest Fair Value Estimate Increases After Q1 Earnings
-
Markets Brief: Inflation Back in the Spotlight
-
AI Is Booming, but Consumer Spending Is Slowing. Which Will Prevail in the Stock Market?
-
What’s Happening In the Markets This Week
-
3 Dividend Stocks for June 2024
-
After Earnings, Is Alibaba Stock a Buy, Sell, or Fairly Valued?
-
MongoDB Earnings: Slashing Valuation as Execution and Macro to Blame for Lower Guidance
-
Marvell Earnings: We Raise Our Medium-Term AI Forecast and Bring Our Valuation Up to $75
-
Zscaler Earnings: Impressive Traction in Emerging Products Drives Sales Growth for the Quarter
-
Dell Earnings: Raising Valuation on Strong AI, but the Stock Remains Severely Overvalued
-
After Earnings, Is Nvidia Stock a Buy, Sell, or Fairly Valued?
-
The 10 Best Companies to Invest in Now