by Alyssa Oursler | August 1, 2012 9:56 am
Shares of Milwaukee-based Harley-Davidson — part of InvestorPlace‘s Real America Index — were off 9% after its most recent earnings report, despite a jump in earnings.
The company reported a profit of $247.3 million, or $1.07 a share, up from $190.6 million, or 81 cents a share, a year earlier — an improvement of 30% thanks to stronger sales of motorcycles in the U.S. and abroad, The Wall Street Journal reports. Analysts had only been expecting earnings of $1.05 a share.
Revenue, though, fell short of expectations. Wall Street estimated sales of of $1.63 billion, but HOG only brought in $1.57 billion. Still, that was still a 17% year-over-year increase.
The company also lowered its guidance by $10 million because of restructuring costs, though.
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