BMW has raised its profit forecast for 2021 today announcing strong quarterly results while warning investors about the impact of the global semiconductor chip shortage on the carmaker.
The company saw “strong customer demand during the first half of the year,” according to a statement by chief executive
“However,” he continued, “in light of a number of prevailing risks, including raw materials prices and a shortage of semiconductors, the second six-month period is likely to be more volatile for the
The automotive company reported a better-than-expected profit for its second quarter compared with a loss in the same period last year – when the German luxury carmaker felt the force of the pandemic.
Analysts had expected net income of €2.2bn for the second quarter, according to a Reuters report but the company’s actual net profit exceeded at €4.8bn (£4.1bn), versus a loss of €212m for the same quarter in 2020.
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