The flood of reports

VW lowers forecast – disappointing results

Volkswagen reports unexpectedly weak results for the second quarter and lowers its forecast for the full year.

Operating profit for the quarter of 3.47 billion euros can be compared with an average forecast among analysts of just over 4 billion euros.

For the full year, VW expects revenues to be unchanged at most. The floor in the forecast is lowered to minus 3 percent. In the previous forecast, the company expected up to 3 percent growth in revenues.

Revenues in the second quarter totaled 82.4 billion euros, which was marginally more than the expected 81.7 billion.

“Challenges are expected in particular from the macroeconomic environment, uncertainties surrounding restrictions in international trade and geopolitical tensions,” the company writes in the interim report.

During the morning, a number of companies reported their interim reports. Here you can read a summary of the most important ones.

No growth but rising margin for Securitas

The security company Securitas reports an operating profit before depreciation of SEK 2,824 million for the second quarter. Analysts had forecast an average of SEK 2,934 million, according to an Infront compilation.

The EBITA margin was 7.5 percent, compared to the expected 7.7 percent.

Sales amounted to SEK 37,843 million, which was slightly below expectations.

Organic growth was 0 percent, compared to the expected 1.2 percent. 

Intel's fastest growth in 15 years – the stock soared

Intel's sales surged by 25 percent in the second quarter, the largest increase in a quarter since 2011, notes CNBC.

Profit quadrupled, while analysts had expected a doubling.

“AI is driving unprecedented demand for computing power,” CEO Lip-Bu Tan said in the interim report.

Intel’s forecast for the third quarter is also higher than expected, CNBC reports.

The report came after Wall Street closed. Intel’s stock rose about 11 percent in after-hours trading.