Fiat Chrysler first-quarter profit beats expectations but higher debt hits shares

April 26, 2016 11:23 AM

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Fiat Chrysler first-quarter profit beats expectations but higher debt hits shares

MILAN Fiat Chrysler Automobiles (FCA) (FCHA.MI) on Tuesday reported a better-than-expected rise in first-quarter operating profit on strong North America performance and confirmed its full-year guidance, but higher debt disappointed, pushing shares lower.

The world's seventh-largest carmaker said adjusted operating profit for the January-March period rose to 1.38 billion euros ($1.56 billion) from 700 million the previous year and compared with an analyst consensus of 1.17 billion euros in a Thomson Reuters poll.

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