Porsche shares jump 3% after smaller-than-expected loss

Porsche AG’s shares rose over 2% on Monday following the release of its third-quarter results, which revealed an adjusted operating loss smaller than analysts had anticipated.

The German luxury carmaker reported a Q3 adjusted operating loss of €967 million ($1.1 billion). Market analysts, including Jefferies, had expected a wider loss of around €1.09 billion, News.Az reports, citing Reuters.

RBC analysts noted that this “positive surprise” could provide a boost to Porsche’s stock performance in the near term. The company also confirmed its full-year guidance, giving investors further confidence in its outlook.

 

News.Az