Porsche Swings to Near €1 Billion Loss After EV Pullback (2)

Porsche AG suffered its first quarterly loss as a listed company, with the luxury-car manufacturer taking a €3.1 billion ($3.6 billion) hit this year from scaling back its electric ambitions and US tariffs.

The 911 maker reported a €966 million operating loss in the three months through September, after delaying some of its electric-vehicle plans and scrapping a program to build its own batteries. Slumping demand in China has also taken a toll.

Porsche has struggled of late, with waning enthusiasm for EVs and supply chain bottlenecks exacerbating weak sales in China and US import tariffs. The poor performance saw ...