Porsche reports 18.3% operating return in first nine months, confirms forecast

Must read

West watches for Putin’s next move after breakaway region asks Moscow to ‘protect’ it from Moldova

Russian President Vladimir Putin during a meeting with his confidants for the 2024 election at Gostiny Dvor in Moscow, Russia, on Jan. 31, 2024.Maxim...

AB InBev profits rise despite ongoing hit from Bud Light boycott in U.S.

Bud Light, made by Anheuser-Busch.Joe Raedle | Getty ImagesHiking beer prices led Budweiser owner Anheuser-Busch InBev to profit and revenue growth last year, even...

Wall Street takes bets on which major central bank will blink first

A trader works, as a screen displays a news conference by Federal Reserve Board Chairman Jerome Powell following the Fed rate announcement, on the...

Alibaba Cloud slashes prices by as much as 55% to fuel AI growth in China

Signage at the Alibaba Group Holding Ltd. booth at the Smart China Expo in Chongqing, China, on Monday, Sept. 4, 2023.Qilai Shen | Bloomberg...

Porsche reports 18.3% operating return in first nine months, confirms forecast © Reuters. FILE PHOTO: A Porsche logo is seen on a vehicle displayed during an event a day ahead of the official opening of the 2023 Munich Auto Show IAA Mobility, in Munich, Germany, September 4, 2023. REUTERS/Angelika Warmuth/File photo

BERLIN (Reuters) – Porsche AG reported an operating return on sales of 18.3% in its first nine months on Wednesday, in line with its annual forecast, with operating profit up 9% to 5.5 billion euros ($5.83 billion).

The luxury carmaker saw a 12.6% rise in sales revenue to 30.13 billion euros, on a 9.6% rise in deliveries.

Porsche confirmed its outlook for 2023 of a 17-19% return on sales of 40 to 42 billion euros and a 20% return on sales in the long term.

The company had said in late September it expected to hit those forecasts despite interest rate rises and an uncertain economic outlook in China, causing some instability.

($1 = 0.9432 euros)

More articles

Latest article

West watches for Putin’s next move after breakaway region asks Moscow to ‘protect’ it from Moldova

Russian President Vladimir Putin during a meeting with his confidants for the 2024 election at Gostiny Dvor in Moscow, Russia, on Jan. 31, 2024.Maxim...

AB InBev profits rise despite ongoing hit from Bud Light boycott in U.S.

Bud Light, made by Anheuser-Busch.Joe Raedle | Getty ImagesHiking beer prices led Budweiser owner Anheuser-Busch InBev to profit and revenue growth last year, even...

Wall Street takes bets on which major central bank will blink first

A trader works, as a screen displays a news conference by Federal Reserve Board Chairman Jerome Powell following the Fed rate announcement, on the...

Alibaba Cloud slashes prices by as much as 55% to fuel AI growth in China

Signage at the Alibaba Group Holding Ltd. booth at the Smart China Expo in Chongqing, China, on Monday, Sept. 4, 2023.Qilai Shen | Bloomberg...

Elon Musk again promises next-generation Roadster, six years after first hyping it

Tesla RoadsterCourtesy: TeslaSix years ago, Elon Musk hyped a next-generation Roadster, the name of Tesla's debut car from 2008. A refreshed version was never...