Fiat Chrysler posts $1.1 billion in Q3 net income

MILAN — Fiat Chrysler Automobiles on Tuesday reported a 50 percent jump in third-quarter net profit, along with lower debt.

The world’s seventh-largest carmaker said net profit for the July-September period rose to 910 million euros ($1.1 billion), up from 606 million last year. Analysts expected 808 million euros in profit, according to a Thomson Reuters poll.

Adjusted earnings before interest and tax (EBIT) for the period rose 17 percent, while revenues were down 2 percent to 26.4 billion euros, both roughly in line with expectations.

Net industrial debt stood at 4.2 billion euros, down 179 million euros from the second quarter. 

The company confirmed its guidance for the full year.