Dow Jones Newswires: Porsche confirms guidance after reporting higher profit

by | May 3, 2023 | Stock Market

Porsche AG on Wednesday confirmed its 2023 guidance after reporting a higher profit for the first quarter on rising sales and strong pricing and product mix. The German sports-car maker XE:P911 said operating profit for the period amounted to 1.84 billion euros ($2.02 billion), up 25% over the same period last year. Revenue climbed 25.5% to EUR10.10 billion. Porsche’s return on sales was 18.2%, flat on year. “Markets…

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