Net income in the first six months rose to Ђ1.05 billion (US$1.36 billion), from Ђ170 million in the same period a year earlier, the company said in a statement. Sales fell to Ђ3.05 billion (US$3.96 billion), from Ђ3.26 billion a year earlier and below analysts' estimates of Ђ3.17 billion (US$4.11 billion).
Porsche said net profit was boosted by a better model mix, gains from stock-price hedging and a re-evaluation of the company's 27.4 percent stake in Volkswagen.
The re-evaluation of the Volkswagen stake, which Porsche said was necessary to reflect the increase in its stake in Europe's biggest carmaker, contributed Ђ520 million (US$674.86 million) to the bottom line.
Analysts had expected the Stuttgart-based sportscar maker to post net profit of Ђ340 million (US$441.25 million) in the first six months, reports AP.
Porsche shares were down 0.84 percent in early Frankfurt trading to Ђ1,001.51 (US$1,299.76).
Porsche's fiscal year ends July 31.
Putin's official spokesman Dmitry Peskov commented on remarks in the US media about failures in launching nuclear-capable missiles in Russia
More than 5.8 million people voted for Nicholas Maduro at the presidential election in Venezuela. This is more than a quarter of registered voters. Why did those people vote for the man, who, as Western media write, took Venezuela to the brink of collapse?
It has long been understood that the West has been trying to subject Russian borders to total control. We have not seen such activity even during the Cold War