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.
- Cortege departs to take Mandela's body to lie in state |
- U.S. Mega Millions lottery up to $400 million, 2nd-biggest ever
- Uruguay becomes first country to legalize marijuana trade
- UPDATE 2-U.S. Mega Millions lottery up to $400 million, 2nd-biggest ever
- U.S. budget deal could usher in new era of cooperation