By Kim Richters
Shares in Deutsche Post AG traded higher on Friday after the German freight-and-logistics group reported second-quarter results above analysts forecasts and backed its full-year earnings target.
At 0720 GMT, Deutsche Post shares were up 5.8% at EUR42.26.
The company’s quarterly net profit rose to 1.46 billion euros ($1.50 billion) from EUR1.29 billion a year earlier, beating analysts’ expectations of EUR1.23 billion, according to consensus estimates provided by the company. Revenue increased 23% to EUR24.03 billion, while earnings before interest and taxes rose 12% to EUR2.34 billion. Analysts had expected revenue of EUR21.79 billion and EBIT of EUR2.01 billion.
Deutsche Post confirmed an EBIT guidance of EUR8 billion plus or minus 5% for 2022.
Analysts at Citi expect mid-single digit percentage upgrades to the full-year consensus estimates on the back of the company’s update.
Write to Kim Richters at [email protected]
Credit: www.marketwatch.com /