BMW Q2 Net Profit Down 28%

BMW AG BAMXY reported a 28% drop in its second-quarter profit. BMW's quarterly net profit fell to EUR1.28 billion. Its pretax profit dropped 25% to EUR1.98 billion, while earnings before interest and tax (EBIT) declined 19% to EUR2.27 billion. BMW's revenue climbed 7.3% to EUR19.2 billion. BMW shares closed at $24.75 yesterday.