Volkswagen and Porsche Numbers Don’t Make a Lot of Sense. The Numbers Explained.

Text size European auto makers Volkswagen and Porsche both reported third quarter numbers Friday and making sense of the numbers is a challenge. Sometimes the market doesn't make sense. VW (ticker: VOW3.Germany) reported $4.3 billion in third quarter operating profit. Wall Street was looking for $4.5 billion. Shares are down 3.8% in overseas trading. The stock dropping on an earnings miss isn't surprising. Volkswagen didn't change full year financial guidance and still plans to make roughly 20 billion in operating profit in 2022. Financial guidance hasn't changed, but delivery guidance has. Back in July, Volkswagen believed total deliveries in 2022…