MILAN, Oct 31 (Reuters) - Fiat said on Friday its operating loss narrowed year-on-year to 285 million euros in the third quarter, slightly worse than analysts' forecasts, while its struggling car unit cut its losses to 314 million euros.
Analysts polled by Reuters had forecast the Italian industrial group would book an operating loss of 246 million euros while Fiat Auto was seen losing 272 million euros against 340 million euros a year ago.
Fiat group revenue came in at 9.837 billion euros in the third quarter, against 11.99 billion a year-ago, hit by the sale of insurance unit Toro and aviation arm Fiat Avio which were sold to help fund a turnaround at Fiat Auto.
At Fiat Auto, which is battling to reverse a slump in sales that caused its crisis, turnover fell to 4.155 billion euros from 4.66 billion in the third quarter last year.
Group net loss for the third quarter came in at 84 million euros against a net loss of 413 million a year ago, boosted by a capital gain on the sale of Fiat Avio.