Fiat Posts Downbeat Q4 Earnings, Lowers 2014 Outlook
Italian automaker Fiat (OTC: FIATY) reported weaker-than-expected fourth-quarter earnings and lowered its 2014 forecast.
Fiat's quarterly trading profit came in at 931 million euros ($1.27 billion), versus a restated 887 million euros in the prior year. However, analysts were expecting a profit of 1.15 billion euros.
For 2014, Fiat now projects a trading profit of 3.6 to 4.0 billion euros, versus its earlier forecast of 4.7 to 5.2 billion euros.
Fiat shares closed at $10.41 yesterday.
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