Fiat Reports Second-Quarter Profit on Truck Rebound
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Fiat SpA, the carmaker that acquired 20 percent of Chrysler Group LLC last year, reported its first profit in three quarters on increased sales of Iveco trucks and New Holland tractors.
The stock rose the most in 10 weeks in Milan. Second-quarter net income was 90 million euros ($116 million), compared with a 168 million-euro loss a year earlier, Fiat said today. Earnings before interest, taxes and one-time gains or losses more than doubled to 651 million euros, beating the 359 million- euro average estimate of analysts compiled by Bloomberg.