BMW's Automotive Unit Misses Expectations But Company Meets Margin Goal
By David Sachs
BMW's earnings rose in the fourth quarter on a revenue jump, but the company's key automotive unit missed expectations.
The German luxury-car maker said Thursday that group earnings before taxes reached 4.41 billion euros ($4.83 billion) in the fourth quarter compared with EUR3.5 billion a year earlier. The result beat analyst expectations of EUR3.94 billion, according to a FactSet poll.
Earnings before interest and taxes in the automotive segment--BMW's key division--rose to EUR3.17 billion from EUR2.93 billion. But they trailed analyst expectations of EUR3.25 billion, according to FactSet.
Revenue for the quarter jumped 8.7% EUR42.97 billion, beating forecasts of EUR41.37 billion, according to the Visible Alpha consensus.
The company proposed a dividend of EUR6.00 per share.
Write to David Sachs at david.sachs@wsj.com
(END) Dow Jones Newswires
March 14, 2024 09:14 ET (13:14 GMT)
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