Chrysler Q2 Numbers Bolster Detroit-Based Peers (F) (GM)
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Financial Fact:
Selling, administrative and other expenses: 3.82B
Today's EPS Names:
EDXC, BICX, FBPI, More
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General Motors (NYSE: GM) and Ford Motor (NYSE: F) are up on Tuesday's session following strong quarterly results from Auburn Hills, MI-based peer Chrysler Group.
For the quarter ending June 30th, 2013, Chrysler said revenue rose 7 percent to $18 billion while adjusted operating profit improved 7 percent to $808 million. The company said that net income rose 16 percent to $507 million.
Today's data comes following a 65 percent drop in first-quarter profits as lower shipments and higher retooling costs clipped margins.
Chrysler ended the quarter with $11.9 billion in cash, down from $12.1 billion in the same period last year. The company also took a $151 million charge related to the recall of 1.56 million Jeeps in the U.S.
Strong worldwide vehicle sales for the second quarter of 643,000, up 10 percent from a year ago, were driven primarily by a 17 percent increase in U.S. retail sales, Chrysler said.
Last week, Ford reported EPS of 45 cents, topping views by 8 cents. GM produced Q2 EPS of 84 cents, exceeding views by 9 cents.
For the quarter ending June 30th, 2013, Chrysler said revenue rose 7 percent to $18 billion while adjusted operating profit improved 7 percent to $808 million. The company said that net income rose 16 percent to $507 million.
Today's data comes following a 65 percent drop in first-quarter profits as lower shipments and higher retooling costs clipped margins.
Chrysler ended the quarter with $11.9 billion in cash, down from $12.1 billion in the same period last year. The company also took a $151 million charge related to the recall of 1.56 million Jeeps in the U.S.
Strong worldwide vehicle sales for the second quarter of 643,000, up 10 percent from a year ago, were driven primarily by a 17 percent increase in U.S. retail sales, Chrysler said.
Last week, Ford reported EPS of 45 cents, topping views by 8 cents. GM produced Q2 EPS of 84 cents, exceeding views by 9 cents.
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