Reported 2 days ago
Brazilian motor manufacturer WEG reported a 10.4% year-on-year increase in second-quarter net profit, but fell short of market expectations due to elevated global economic volatility, resulting in a significant drop in its stock price. The company's net income of 1.59 billion reais was below the anticipated 1.76 billion, and, while revenue rose to 10.2 billion reais, it still missed forecasts. Analysts attribute the lackluster results to slower sales growth and a weakened U.S. dollar affecting revenue from exports, alongside ongoing geopolitical uncertainties that have delayed investment decisions.
Source: YAHOO