Deutsche Post Shares Rise After 2Q Results Beat Expectations
August 05 2022 - 3:00AM
Dow Jones News
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 kim.richters@wsj.com
(END) Dow Jones Newswires
August 05, 2022 03:45 ET (07:45 GMT)
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