Fiat's accounts exceed expectations, but Chrysler's profit warning sinks the stock. In fact, the second quarter of the Italian company ended with operating profit growing by 9% to over one billion euro, also thanks to the increase in sales (+5% on an annual basis worldwide). L'net profit reached 435 million euros, a figure almost doubled compared to the second quarter of last year and much higher than the consensus, at 305 million euros.
Lingotto also confirmed the estimates for the full year: revenues should settle in the range between 88 and 92 billion euros, trading profit between 4 and 4,5 billion and net income between 1,2 and 1,5 billion euros.
In chiaroscuro, however, the numbers of Chrysler. The US subsidiary of Fiat made profits of 507 million dollars in the second quarter, recording an increase of 16% on an annual basis, just as operating profit was up, to 808 million against 755 in the same period of 2012.
However, the US company communicated that its results, at the end of the year, will be lower than analysts' expectations: the new estimates for 2013 they speak of a profit of between 1,7 and 2,2 billion dollars against the 2,2 previously communicated.
Despite the positive results, in the late morning the Fiat share fell in Piazza Affari, dropping 4,05% to 6,045 euros per share, placing itself at the bottom of the Ftse Mib.
