Porsche’s operating profit plunges 99% as CFO manages EV reset: Trial Balance

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Sports car manufacturer Porsche consistently pushed ahead with the realignment of its product strategy, which places a renewed focus on combustion engine technology, at the end of the third quarter. This is intended to ensure strong profitability in the long term, but will have a significant short-term impact on various financial metrics. As expected, the strategic realignment and macroeconomic challenges significantly impacted the company's res…