Why BMW's $800 Million Second-Quarter Loss Was Worse Than Expected

BMW AG (OTC: BMWYY) (OTC: BAMXF) reported an operating loss of 666 million euros ($790 million) for the second quarter, its worst quarterly result since 2008 and a steep drop from its 2.2 billion-euro profit a year ago, as its sales fell 25% amid the global coronavirus pandemic. Assuming that recovery continues, BMW still expects to report a profit for the full year. BMW's loss was wider than investors and analysts had expected, and its shares fell in early trading after the results were released.