BREAKING NEWS

Daimler second-quarter EBIT lags despite record Mercedes-Benz sales

Now Reading:

Daimler second-quarter EBIT lags despite record Mercedes-Benz sales

Text size Aa Aa

FRANKFURT (Reuters) – Daimler’s <DAIGn.DE> second-quarter operating profit rose 15 percent, below expectations, despite booming sales of the new Mercedes-Benz cars helping to lift margins in the autos business to 10.2 percent. Daimler’s group earnings before interest and taxes rose to 3.74 billion euros in the second-quarter, below the 3.807 billion euros seen in a Reuters poll of banks and brokerages. Mercedes-Benz Cars sold 595,200 automobiles thanks to a 28 percent rise in demand in China, with demand in Germany only moderately higher. The Stuttgart-based company lifted the outlook for its trucks and vans divisions, saying it now expected earnings before interest and taxes (EBIT) to reach prior-year levels for both businesses. It had earlier forecast Vans and Buses to post EBIT below year-earlier levels.

(Reporting by Edward Taylor; Editing by Victoria Bryan)
euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.