Volvo Q4 profit misses forecast
STOCKHOLM Feb 6 (Reuters) - Truck maker Volvo posted a bigger than expected fall in fourth-quarter earnings on Wednesday and said it still expected flat demand this year in Europe and North America while it lifted its forecast for the Brazilian market.
Volvo said operating earnings tumbled to 1.12 billion Swedish crowns ($176.52 million) from a year-ago 6.96 billion to come in well below a mean forecast for 2.19 billion seen in a Reuters poll of analysts.
Weak capacity utilisation and higher restructuring charges than forecast by analysts weighed on the results of the company, the dominant global player in the industry alongside Germany's Daimler.
- 'Weird Al' Yankovic still trying to wrap head around No. 1 album
- French warplanes search Mali desert for crashed Air Algerie plane |
- Wreckage of Air Algerie plane carrying 116 people found in Mali |
- Crunch time for Gaza truce talks as death toll passes 800 |
- World's oldest joke traced back to 1900 BC