Fiat earnings beat, gross sales lacking within the second quarter

© Reuters. Fiat earnings beat, sales missing in the second quarter – Fiat reported on Friday that analysts' forecasts and sales were below expectations.

Fiat announced earnings per share of € -0.65 with sales of € 11.71 billion. Analysts surveyed by expected earnings per share of € -1.21 with sales of € 13.94 billion.

Fiat shares have fallen 34.67% since the beginning of the year, after the 52-week high of € 14.78 on November 4, 2019, still fell by 41.68%. It is below average, which corresponds to a decline of 14.31% compared to the beginning of the year.

Fiat follows other key consumer discretionary results this month

Fiat's report follows a result missed by Moncler SpA on July 26, showing earnings per share of € 0.17 on sales of € 93.2 million compared to a forecast earnings per share of € 0.2 with sales of € 95.13 million.

Freni Brembo missed expectations on Wednesday with earnings per share of € -0.03 with sales of € 375.2 million, compared to a forecast for earnings per share of € -0.02 with sales of 399 Million euros.

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