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8/3, 7:50 AM (Source: TeleTrader)
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BMW St.+2.16%

87.54
Chart for: BAY.MOTOREN WERKE AG ST

BMW's Q2 revenue beats estimates at €28.58 billion

Bayerische Motoren Werke AG said on Tuesday that its second-quarter revenue annually surged 43.1% to reach €28.58 billion, beating market estimates. BMW's net profit skyrocketed to €4.79 billion, with earnings per share of €7.23.

"Our performance has benefited from strong customer demand during the first half of the year, enabling us to achieve significant growth. However, in light of a number of prevailing risks, including raw materials prices and a shortage of semiconductors, the second six-month period is likely to be more volatile for the BMW Group," Chairman Oliver Zipse noted.

The German carmaker reiterated plans to achieve selling more than 50% of its total new vehicles as electric models by 2025. Furthermore, it stressed the importance of the European Green Deal by saying it has installed to date over 15,000 charging points worldwide.

Breaking the News / ND