Chrysler posts $183M operating profit for Q2
Chrysler Group LLC today reported a second-quarter profit of $183 million on operations, its second consecutive quarterly operating profit since emerging from bankruptcy last year.
Chrysler surprised the industry by making $143 million on operations, which excludes interest and taxes, in the first quarter.
Quote from the article:
Source: Chrysler posts $183M operating profit for Q2
Chrysler surprised the industry by making $143 million on operations, which excludes interest and taxes, in the first quarter.
Quote from the article:
| "The second-quarter operating profit confirms that Chrysler Group is on track to achieve its goals," Chrysler CEO Sergio Marchionne said in a statement, "yet an extraordinary amount of work still lies ahead." Overall, the Auburn Hills automaker posted a net loss of $172 million, down from $197 million in red ink in the first three months of the year, as it works to rebuild its image and product lineup. Revenues rose 8.2 percent to $10.5 billion, bringing Chrysler's six month total to $20.2 billion. The results come a year after Chrysler stayed afloat by filing for Chapter 11 bankruptcy, taking a taxpayer bailout and partnering with Fiat SpA. Between June 10, 2009, when the automaker emerged from bankruptcy, and the end of last year, Chrysler lost $3.8 billion. Marchionne said the second-quarter operating profit was largely driven by increased sales. Global sales rose 22 percent in the quarter, to 407,000 vehicles; Chrysler's U.S. market share inched up to 9.4 percent, from 9.1 percent in the first quarter. |
Source: Chrysler posts $183M operating profit for Q2
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