FRANKFURT, Germany - Automaker BMW AG said today that its second-quarter profit slid nearly 33 percent and abandoned its annual profit forecast, blaming a drop in U.S. sales, rising costs for raw materials and the strong euro.
In a surprise announcement that sent its shares plummeting more than 10 percent, the world’s biggest maker of luxury cars, said it earned 507 million euros ($791.5 million) in the April-June period, down nearly 33 percent from the 753 million euros it earned last year.
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