(Reuters) -Shares of Porsche AG gained more than 2% on Monday after the German luxury carmaker reported on Friday an adjusted operating loss that was smaller than the market had feared and confirmed
Porsche Shares Climb 3% Following Smaller Than Expected Loss
Porsche's Financial Performance Overview
(Reuters) -Shares of Porsche AG gained more than 2% on Monday after the German luxury carmaker reported on Friday an adjusted operating loss that was smaller than the market had feared and confirmed its full-year guidance.
Third-Quarter Operating Results
The company's third-quarter adjusted operating result swung to a loss of 967 million euros ($1.1 billion), but analysts from Jefferies said the market consensus had expected the loss to be even wider at 1.09 billion euros.
Analysts' Insights and Market Reactions
RBC analysts wrote in a research note published on Friday that this beat could boost the Porsche shares.
($1 = 0.8575 euros)
(Reporting by Amir Orusov in Gdansk, editing by Milla Nissi-Prussak)
