Harley-Davidson profit skids 45 percent as coronavirus slows sales

Harley-Davidson reported a drop of about 45 percent in quarterly profit on Tuesday as motorcycle sales took a hit from global lockdowns due to the coronavirus pandemic.

Harley’s net income fell to $69.7 million, or 45 cents per share, in the first quarter ended March 29 from $127.9 million, or 80 cents per share, a year earlier.

Motorcycles and related products revenue fell 8 percent, to $1.10 billion.

Nonetheless, shares of Harley-Davidson were up nearly 14 percent in early-afternoon trading, to $21.51.


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