BMW profit skids 74% (no enduring recovery)
BMW profit skids 74% By Polya Lesova, MarketWatch FRANKFURT (MarketWatch) -- BMW Tuesday reported a 74% decline in third-quarter net profit, as the recession deterred buyers of luxury cars. Third-quarter net profit dropped 74% to 78 million euros ($115 million) from the same period a year ago. Revenue fell by 6.6% to 11.76 billion euros. Analysts polled by FactSet had expected a profit of 39 million euros on sales of 11.97 billion euros.
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Tags: Bmw, Decline, Frankfurt, Luxury Cars, Marketwatch, Net Profit, Recession, Skids