BMW Quarterly Profit Slumps on $1.6 Billion Antitrust Provision

May 07 2019, 5:45 AMMay 07 2019, 6:00 AMMay 07 2019, 5:45 AMMay 07 2019, 6:00 AM

(Bloomberg) --

BMW AG’s first-quarter profit slumped after car sales in key markets slowed and the manufacturer revised a provision for a potential fine for alleged collusion to 1.4 billion euros ($1.6 billion).

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Market Reaction

BMW fell 2.2 percent to 74 euros at Monday’s close. The stock has gained 4.7 percent since the start of the year, while the STOXX 600 Autos & Parts Index is up 18 percent.

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BMW First Quarter Sales Meet Estimates
The company is hosting a media call at 10 a.m. and AN analyst webcast at 2 p.m. local time. Investors will look for clarity on how the second half of the year will go.

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