Volkswagen Announces Record $29 Billion Profit but Shares Drop

German car company Volkswagen AG announced a record $29 billion profit for 2012, but shares dropped. Markets looked through paper gains on stocks and options in Porsche and punished a cautious outlook.
Volkswagen Announces Record $29 Billion Profit but Shares Drop
A visitor looks at a VW Beetle Fender edition at a Volkswagen Group showroom on Jan. 14, 2013 in Berlin, Germany. Sean Gallup/Getty Images
Valentin Schmid
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<a><img class="size-large wp-image-1770169" title="Volkswagen Group Delivers Over 9 Million Vehicles In 2012" src="https://www.theepochtimes.com/assets/uploads/2015/09/159486265.jpg" alt="A visitor looks at a VW Beetle Fender edition at a Volkswagen Group showroom on Jan. 14, 2013 in Berlin, Germany. The company announced record earnings Feb. 22 but provided a cautious outlook for 2013. (Sean Gallup/Getty Images)" width="590" height="402"/></a>
A visitor looks at a VW Beetle Fender edition at a Volkswagen Group showroom on Jan. 14, 2013 in Berlin, Germany. The company announced record earnings Feb. 22 but provided a cautious outlook for 2013. (Sean Gallup/Getty Images)

Valentin Schmid
Valentin Schmid
Author
Valentin Schmid is a former business editor for the Epoch Times. His areas of expertise include global macroeconomic trends and financial markets, China, and Bitcoin. Before joining the paper in 2012, he worked as a portfolio manager for BNP Paribas in Amsterdam, London, Paris, and Hong Kong.
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