PSA's shares rise 4% as revenue beats estimates

Tuesday, 28. July 2020 09:32

Groupe PSA's stock gained over 4% on Tuesday after the automaker released its earnings report for the first half of 2020.

Even though the PSA's revenue dropped 34% compared to the same time span a year prior, it amounted to €25.1 billion, surpassing market analysts' expectations, while the adjusted operating income stood at €517 million, beating the estimates by 133%.

The French company's shares advanced 4.03% at 9:16 am ET, trading at €15.51.

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Breaking the News / MS