Mercedes-Benz (MBG.DE) reported decent results on Tuesday, highlighting strength in its core business, but continuing weakness in China. The report comes as the German automaker's US business is under threat of a ban due to ownership stakes by Chinese companies.
In the second quarter, Mercedes reported passenger car revenue of 22.99 billion euros ($26.18 billion), down 5% compared to a year ago, with adjusted EBIT coming in at 909 million euros ($1.035 billion), down 26% year over year.
But its adjusted return on sales (similar to EBIT margin) in the car unit fell slightly to 4% from a year earlier, beating **** yst expectations per Bloomberg.
Mercedes stock trading in Germany pulled higher.
But the good news in its operations comes at a tricky time for Stuttgart-based Mercedes.
#mercedes #year #comes #down
In the second quarter, Mercedes reported passenger car revenue of 22.99 billion euros ($26.18 billion), down 5% compared to a year ago, with adjusted EBIT coming in at 909 million euros ($1.035 billion), down 26% year over year.
But its adjusted return on sales (similar to EBIT margin) in the car unit fell slightly to 4% from a year earlier, beating **** yst expectations per Bloomberg.
Mercedes stock trading in Germany pulled higher.
But the good news in its operations comes at a tricky time for Stuttgart-based Mercedes.
#mercedes #year #comes #down
4 days ago
