S&P 500
7,615.40
-0.09%
Dow Jones
51,329.00
-0.08%
Nasdaq 100
30,646.40
-0.23%
Russell 2000
2,930.28
-0.10%
FTSE 100
10,374.60
-0.13%
Nikkei 225
68,514.20
+1.50%

Cars and Drivers

Chrysler Reports Second Quarter Profit of $436 Million

Photo of 247sam
By 247sam Updated Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Invalid Image
Chrysler’s second-quarter financials are back in the black.

Chrysler reported net income of $436 million for the second quarter, significantly better than the $370 million loss the company reported in the year-earlier period. While the loss last year involved a special charge to repay government bailout loans, net income excluding the charge still impvoved $255 million from a profit of $181 million last year.

The carmakers revenue was $16.8 billion, up 23% from the year-earlier period. The company attributed that revenue growth to a 22% increase in year-over-year shipments.

“Our results reflect a tireless pursuit by the people of Chrysler Group to deliver the very best quality and value across our brands,” CEO Sergio Marchionne said in a statement. “Together, we are always striving to achieve more, to learn from the past and build upon our successes.

Chrysler, which is a private company, is based in Auburn Hills, Mich., a suburb of Detroit.

Samuel Weigley

DISCLOSURE:
INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE Brokerage and Active investing products offered through SoFi Securities LLC, member FINRA(www.finra.org)/SIPC(www.sipc.org). Advisory services are offered by SoFi Wealth LLC, an SEC-registered investment adviser. Information about SoFi Wealth’s advisory operations, services, and fees is set forth in SoFi Wealth’s current Form ADV Part 2 (Brochure), a copy of which is available upon request and at www.adviserinfo.sec.gov. Probability of Member receiving $1,000 is a probability of 0.026%; If you don’t make a selection in 30 days, you’ll no longer qualify for the promo. Customer must fund their account with a minimum of $50.00 to qualify. Other fees, such as exchange fees, may apply. Please view our fee disclosure to view a full listing of fees. Investing in alternative investments and/or strategies may not be suitable for all investors and involves unique risks, including the risk of loss. An investor should consider their individual circumstances and any investment information, such as a prospectus, prior to investing. Interval Funds are illiquid instruments, the ability to trade on your timeline may be restricted. Brokerage and Active investing products offered through SoFi Securities LLC, Member FINRA(www.finra.org) /SIPC(www.sipc.org). There are limitations with fractional shares to consider before investing. During market hours fractional share orders are transmitted immediately in the order received. There may be system delays from receipt of your order until execution and market conditions may adversely impact execution prices. Outside of market hours orders are received on a not held basis and will be aggregated for each security then executed in the morning trade window of the next business day at market open. Share will be delivered at an average price received for executing the securities through a single batched order. Fractional shares may not be transferred to another firm. Fractional shares will be sold when a transfer or closure request is initiated. Please consider that selling securities is a taxable event. Options involve risks, including substantial risk of loss and the possibility an investor may lose the entire investment Before trading options please review the Characteristics and Risks of Standardized Options  Investing in an Initial Public Offering (IPO) involves substantial risk, including the risk of loss. Further, there are a variety of risk factors to consider when investing in an IPO, including but not limited to, unproven management, significant debt, and lack of operating history. For a comprehensive discussion of these risks please refer to SoFi Securities’ IPO Risk Disclosure Statement This should not be considered a recommendation to participate in IPOs and investors should carefully read the offering prospectus to determine whether an offering is consistent with their investment objectives, risk tolerance, and financial situation. New offerings generally have high demand and there are a limited number of shares available for distribution to participants. Many customers may not be allocated shares and share allocations may be significantly smaller than the shares requested in the customer’s initial offer (Indication of Interest). For more information on the allocation process please visit IPO Allocation.
Follow 24/7 Wall St. on Google
Photo of 247sam
About the Author 247sam →

Continue Reading

Douglas A. McIntyre |

Chrysler Revenue Rises 7% as It Stuggles with Larger Rivals

Courtesy Chrysler Group LLCChrysler posted modest results. While the numbers showed some progress, they also indicate that the company is not…

Douglas A. McIntyre |

CMGI Early Earnings Release (June 5, 2007)

Here is the brief summary for CMGI, Inc. (CMGI-NASDAQ) earnings: Net revenue increased 6.5% from prior year to $282.1 million…

How Halliburton Made Awful Q2 Results Look Better
Paul Ausick |

How Halliburton Made Awful Q2 Results Look Better

Oilfield services firm Halliburton reported better-than-expected results Monday morning, giving the shares a much-needed boost.

Chevron Earnings Not Enough for Investors
Chris Lange |

Chevron Earnings Not Enough for Investors

With this earnings report, Chevron is continuing to make progress toward its goal of getting cash balanced. However, recent slumping…

How Jeep Keeps Saving Fiat Chrysler’s Profits
Paul Ausick |

How Jeep Keeps Saving Fiat Chrysler’s Profits

Fiat Chrysler reported-second quarter 2016 results before markets opened Wednesday, and its Jeep brand continues to lead in sales.

Paul Ausick |

Sharp Drop in Legal Expenses Lifts J.P. Morgan Earnings

J.P. Morgan reported third-quarter results before markets opened Tuesday morning, saying revenues were down both sequentially and year-to-date.

Paul Ausick |

After BP Results, Big Oil Earnings Prospects at Oxy, Exxon, Chevron, Valero

ThinkstockWhen energy super-major BP plc (NYSE: BP) reported second-quarter results very early Tuesday morning, the headline number is the $6.3…

Bank of America Earnings Get Boost From Trading
Paul Ausick |

Bank of America Earnings Get Boost From Trading

When Bank of America reported fiscal second-quarter results before markets opened Monday morning, it said sales and trading revenues rose…

Paul Ausick |

Weatherford on Track for New Low After Earnings

ThinkstockWeatherford International Inc. (NYSE: WFT) reported third-quarter 2012 results after markets closed last night. For the quarter, the oil field…

Top Gaining Stocks

Hewlett Packard Enterprise
HPE • Vol: 153,197,465
Enphase Energy
ENPH • Vol: 8,360,053
Corning
GLW • Vol: 18,152,646
Alexandria Real Estate Equities
ARE • Vol: 4,337,015
Aptiv
APTV • Vol: 6,761,325

Top Losing Stocks

Trade Desk
TTD • Vol: 21,905,513
Intuit
INTU • Vol: 7,383,018
Coterra Energy
CTRA • Vol: 73,319,495
Cboe Global Markets
CBOE • Vol: 5,000,011
HP
HPQ • Vol: 29,259,826