Fiat Chrysler Stock Soars On Record First Quarter Earnings Report

(WWJ) Fiat Chrysler stock spiked after the company announced Thursday morning that it had just marked a record first quarter with an adjusted net profit of $731 million.

Of that, $1.6 billion was pre-tax and $1.3 billion of that was earned in the United States.

The company expects to earn $3 billion for the year.

Company shares rose 4 percent in the minutes following the announcement.

In detail: from Fiat Chrysler, here's what that record looks like-

• It was a record first quarter with Adjusted EBIT of €1.5 billion, up
  11 percent
• The company's profit margin increased to 5.5 percent
• Adjusted net profit was up 27 percent to €0.7 billion and Net Profit of €0.6 billion.
  • Worldwide combined shipments of 1,145 thousand units, substantially in line with Q1 2016
  • Net revenues of €27.7 billion were up 4 percent
  • Adjusted EBIT of €1,535 million was up 11 percent
  • Adjusted net profit of €671 million, which was up 27 percent
• Net profit of €641 million, a 34 percent increase
  •  Liquidity is strong at €21.6 billion
  • Moody's Investors Service improved the company's outlook to positive from stable and affirmed