Continental Sales Beat Estimates, But Car Supplier Is Wary
- Business showed ‘substantial improvement’ in course of 2Q
- Auto-parts maker’s shares rise in early Frankfurt trading
Photographer: Andrey Rudakov/Bloomberg
This article is for subscribers only.
Continental AG climbed in Frankfurt trading after reporting better-than-expected second-quarter results as demand picked up during the period, though it refrained from giving a fresh outlook for the year.
Sales fell almost 40% to 6.62 billion euros ($7.6 billion), the German car-parts giant said late Monday, citing preliminary figures. Analysts on average were expecting revenue to drop to 6.37 billion euros, according to data compiled by Bloomberg.