LVMH drops over 5% as net profit slumps - Breaking The News
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LVMH drops over 5% as net profit slumps

Markets
Christian Baha / JJ

1 min read

EPA/MAURITZ ANTIN

Shares of French luxury goods company LVMH Moet Hennessy Louis Vuitton plummeted by over 5% on Wednesday after the company released disappointing full-year financial results.

Namely, LVMH revealed that its net profit in fiscal 2024 sank by 17% to stand at €12.6 billion. Additionally, its revenue landed at €84.7 billion, declining by 2% compared to the year before.

LVMH's stock plunged 5.61% at 9:36 am CET to sell for €708.50 apiece.

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