Fiat Chrysler Automobiles announced that second quarter profits jumped by 70 percent compared to the same period last year.
The revenue forecast for 2015 was also modified as a result of the second quarter profit soar. According to Fiat Chrysler Automobiles, the net profit for the second quarter is 333 million euros. In 2014, during the same period, the stated profit was of 197 million euros.
The revenue outlook for 2015 increased from 108 billion euros by 2 billion to 110 billion euros.
The automaker stated that the profit spike was due to a revived European market, as well as the strengthening of sales in North America.
At the Milan Stock Exchange, the shares of Fiat Chrysler Automobiles closed at 13.98 euros, a 5.75 percent increase.
As the automaker recalled batches of vehicles in the U.S., the announced profits are good news. The recall was estimated to cost a loss of 90 million dollars.
The positive ratings indicate that the 2015 revised outlook could rebounce the automakers credit rating to BB in the following six months, pending that contractual restrictions envisaged between Fiat Chrysler Automobiles and its U.S. unit are removed.
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