Volkswagen Reports Mixed 1Q Results on Higher Volume; Maintaining EUR 230 FVE
No-moat-rated Volkswagen reported earnings per diluted preferred share before special items, or EPS, of EUR 6.46. The result was somewhat disappointing, below the consensus EPS estimate of EUR 6.93 and the EUR 6.71 reported in the first quarter of 2017. However, consolidated revenue increased 4% to EUR 58.2 billion, from EUR 56.2 billion, on a 5% increase in consolidated unit volume, excluding China joint ventures, and a 1% increase in financial services revenue.Management confirmed 2018 guidan...
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