BMW drops over 3% on disappointing results

Wednesday, 05. August 2020 10:55

Shares of BMW dropped over 3% on Wednesday after the carmaker reported its first quarterly loss since 2009 as a result of the coronavirus pandemic.

The carmaker said its net loss stood at €212 million, while its revenue tumbled 22% to €19.97 billion in the three-month period. The company added that it expects significantly lower worldwide deliveries for the automotive segment in 2020.

BMW's shares slid 3.10% to €56.36 at 10:47 am CET.

Related Links: BMW AG
Breaking the News / NP