UPDATE: Harley-Davidson Q2 Profit Rises 9.9%

Harley-Davidson HOG reported a 9.9% rise in its second-quarter profit. Harley-Davidson's quarterly profit surged to $271.7 million, or $1.21 per share, from $247.3 million, or $1.07 per share, in the year-ago period. Its revenue increased 4% to $1.63 billion. However, analysts were expecting earnings of $1.18 per share on revenue of $1.63 billion. Its gross margin rose to 36.9% from 35.9%. Harley-Davidson shares closed at $55.86 yesterday.