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Fiat Chrysler profit beats consensus by 134.7% in Q2

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Fiat Chrysler profit beats consensus by 134.7% in Q2

Fiat Chrysler Automobiles NV said its second-quarter normalized net income amounted to 39 euro cents per share, compared with the S&P Capital IQ consensus estimate of 17 cents per share.

EPS rose 79.7% year over year from 22 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €591.1 million, a gain of 120.6% from €268.0 million in the year-earlier period.

The normalized profit margin climbed to 1.6% from 1.1% in the year-earlier period.

Total revenue increased 25.3% on an annual basis to €29.23 billion from €23.33 billion, and total operating expenses increased 23.8% year over year to €27.70 billion from €22.37 billion.

Reported net income increased 82.9% year over year to €320.0 million, or 21 cents per share, from €175.0 million, or 14 cents per share.