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Fiat Chrysler shares rise as Q3 net profit, debt beat forecasts
October 24, 2017 / 11:14 AM / 2 months ago

Fiat Chrysler shares rise as Q3 net profit, debt beat forecasts

MILAN, Oct 24 (Reuters) - Fiat Chrysler Automobiles (FCA) on Tuesday reported a higher-than-expected 50 percent jump in third-quarter net profit and lower debt than forecast by analysts, pushing is shares up 3 percent.

The world’s seventh-largest carmaker said net profit for the July-September period rose to 910 million euros ($1.1 billion), up from 606 million last year, and compared with an 808 million euro consensus in a Thomson Reuters poll.

Adjusted earnings before interest and tax (EBIT) for the period rose 17 percent, while revenues were down 2 percent to 26.4 billion euros, both roughly in line with expectations.

The company confirmed its guidance for the full year. ($1 = 0.8504 euros) (Reporting by Agnieszka Flak, editing by Valentina Za)

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