Harley-Davidson profit drops 6.4 percent

U.S. motorcycle maker Harley-Davidson Inc reported a 6.4 percent drop in quarterly profit on Tuesday due to lower shipments as demand for its bikes dwindle.

The company said its net income fell to $248.3 million, or $1.45 per share in the second quarter ended July 1, from $258.9 million, or $1.48 per share, a year earlier. (bit.ly/2LJ2I9X)

Revenue from motorcycles and related products fell 3.3 percent to $1.53 billion.

The Milwaukee, Wisconsin-based company maintained its full-year shipments forecast range of between 231,000 and 236,000 motorcycles.

Reporting by Arunima Banerjee in Bengaluru