Sweden's AB Volvo posts forecast-beating Q2 profit amid pandemic

Credit: REUTERS/FABIAN BIMMER

STOCKHOLM, July 17 (Reuters) - Swedish truck maker AB Volvo VOLVb.ST eked out a better than expected core profit in the second quarter as it weathered a raging pandemic that has disrupted production and sent order bookings tumbling in markets across the globe.

Adjusted operating profit at the maker of trucks, construction equipment, buses and engines fell to 3.27 billion Swedish crowns ($360 million) from a year-ago 15.1 billion to come in far above analysts' mean forecast for a profit of only 17 million, according to Refinitiv estimates.

($1 = 9.0799 Swedish crowns)

(Reporting by Niklas Pollard; editing by Johannes Hellstrom)

((Niklas.Pollard@thomsonreuters.com;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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