|
Fiat beats expectations for Q4
Fiat beats expectations for Q4, incentives key for 2010
Posted on Monday, January 25th, 2010 at 12:23 PM EST.(Employee News)
Italian carmaker Fiat said on Monday it expected to boost trading profit in 2010 if car incentives were renewed, as it beat forecasts for fourth-quarter trading profit, Reuters reported.
Fiat, which owns 20 percent of U.S. carmaker Chrysler, posted group trading profit of 488 million euros ($690 million) in the fourth quarter, the company said. Revenues rose 3.6 percent to 13.6 billion euros, Reuters said.
Fiat’s own consensus of analyst forecasts pegged fourth-quarter trading profit at 460 million euros, the report said. Trading profit is operating profit before extraordinary items, the news service noted.
Fiat Chief Executive Sergio Marchionne said last week that results would be better than the average of consensus estimates, Reuters said. The group said that in 2010—”a transitional and stabilisation year”—the group’s business would grow with the exception of the core auto business, which depended on eco-incentives being reintroduced, the story said. (Reuters)
__________________
Rick
Nitro Year: 2007 (1 of 113,000 sold)
Nitro Model: R/T 4X4 Stone White
CAT-BACK Exhaust, CAI, Projector Head Lamps
Fully-Equipped w/all factory options
|
Linear Mode
