HOG - Why Harley-Davidson Stock Was Roaring Ahead Today
There's nothing like an earnings beat to put some real horsepower into your stock. This was the case with motorcycle king Harley-Davidson (NYSE: HOG) on Thursday; the company's very convincing top- and bottom-line beats pushed its share price up by nearly 8% in late afternoon trading.
On Thursday morning, Harley-Davidson unveiled its second-quarter figures, and investors were impressed with the numbers despite the fact that revenue actually dropped by 4% on a year-over-year basis, to land just under $1.47 billion.
The bottom line was a different story. In contrast to revenue, it increased across that one-year span, improving at an almost 5% clip to nearly $216 million, or $1.46 per share.
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Why Harley-Davidson Stock Was Roaring Ahead Today