Fiat Chrysler Beats Earnings Expectations, Raises Full-year Guidance

twocents@thestreet.com (Doron Levin), The Street
Thu, 07/30/2015 - 4:49pm

NEW YORK (TheStreet) --S hares of Fiat Chrysler Automobiles N.V. soared more than 7% on Thursday after the automaker posted sharply higher second-quarter profit, beating analyst expectations. The Netherlands-based automaker, whose main headquarters is in Auburn Hills, Mich., raised its guidance for financial analysts for the rest of 2015. FCA said its second-quarter adjusted earnings before interest and tax (EBIT) was $1.53 billion euros ($1.67 billion), compared with 968 million euros last year. A survey of 11 equity analysts suggested an expected EBIT of 1.1 billion euros for the quarter.

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