Harley-Davidson quarterly revenue falls about 45%

FILE PHOTO: The logo of U.S. motorcycle company Harley-Davidson is seen on one of their models at a shop in Paris, France, August 16, 2018. REUTERS/Philippe Wojazer

(Reuters) – Harley-Davidson Inc (HOG.N) reported a drop of about 45% in quarterly profit on Tuesday as motorcycle sales took a hit from global lockdowns due to the coronavirus pandemic.

Harley’s net income fell to $69.7 million, or 45 cents per share, in the first quarter ended March 29 from $127.9 million, or 80 cents per share, a year earlier.

Motorcycles and related products revenue fell 8% to $1.10 billion.

Reporting by Ankit Ajmera in Bengaluru; Editing by Anil D’Silva

Source: Reuters