VW Jumps on Profit Gain, Sticks to Targets Despite Slowdown

The stock jumped 3.7 percent on Thursday after the world’s biggest carmaker said operating profit rose to 4.8 billion euros ($5.4 billion), excluding a 1 billion-euro provision for legal costs. VW boosted sales of lucrative sport utility vehicles, while benefiting from favorable exchange rates and the revaluation of financial instruments that added 400 million euros to the result.

Source:
https://www.bloomberg.com/news/articles/2019-05-02/vw-s-first-quarter-earnings-drop-after-porsche-audi-sales-fall?utm_campaign=socialflow-organic&utm_content=business&cmpid=socialflow-twitter-business&utm_medium=social&utm_source=twitter&fbclid=IwAR3RAIqisUMHaKknAHC_6SJ9bM_XUqOPJiBP0uVvJ8s4GtxrTave0VfoPOE