BMW swings to Q2 profit versus pandemic hit 2020 By Reuters

© Reuters. A staff member stands near a BMW M3 GT2 vehicle displayed at the BMW booth during a media day for the Auto Shanghai show in Shanghai, China April 19, 2021. REUTERS/Aly Song

LONDON (Reuters) – BMW on Tuesday posted a better-than-expected second-quarter net profit versus a loss in the same period in 2020 when the German luxury carmaker was pummelled by the coronavirus pandemic.

BMW posted a net profit for the quarter of 4.8 billion euros ($5.7 billion), versus a loss of 212 million euros for the same quarter in 2020. Analysts on average had expected net income of 2.2 billion euros for the second quarter, according to Refinitiv estimates.

($1 = 0.8420 euros)

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