- Porsche’s Q1 revenue fell by 10.8% y/y to 9.01 billion euros, above 8.77 billion euros LSEG estimate.
- Operating profit fell 30.3% y/y to 1.28 billion euros, in-line with estimate- due to product launches like the new Panamera and Taycan.
- Operating return on sales fell to 14.2% from 18.2% a year ago.
- Porsche is sticking to its full year revennue guidance of between 40 to 42 billion euros and operating return on sales in the range of 15% to 17%.
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