Reported 13 days ago
German auto supplier Continental has lowered its annual sales forecast for the second time this year due to sluggish demand in Europe and North America, yet reported a strong third quarter profit that exceeded expectations. The company's shares rose 5.6% following a core profit of 873 million euros, attributed to effective cost management in its automotive division. Despite the sales guidance cut, Continental remains confident in its spin-off plans and has reaffirmed its expected earnings for the automotive sector.
Source: YAHOO