Daimler Posts Rise In Q3 Profit

Daimler AG

reported a 49% surge in its third-quarter earnings. Daimler's quarterly net profit rose to EUR2.82 billion ($3.54 billion), while EPS came in at EUR2.56. Net profit of €86 million is attributable to non-controlling interest, while net profit of €2,735 million is attributable to the shareholders of Daimler. Its revenue climbed 10% to EUR33.12 billion, while EBIT from the ongoing business jumped to €2,787 million from €2,300 million. Unit sales climbed 7% y/y to 637,400 vehicles. Unit sales by Mercedes-Benz Cars surged 9% to 431,000 vehicles, while unit sales by Daimler Trucks rose slightly to 125,600 units. Mercedes-Benz Vans' unit sales climbed 11% to 72,200 vehicles. At the end of the quarter, Daimler employed 282,302 people worldwide. “Our strategy is paying off. We are growing profitably and look to the future with optimism also beyond the full year,” stated Dr. Dieter Zetsche, Chairman of the Board of Management of Daimler AG and Head of Mercedes-Benz Cars. “In all our divisions, both the product offensives and the efficiency programs are taking effect. We are confident that we will achieve the targets we have set on a sustained basis.” Daimler shares fell 1.65% to close at $74.82 yesterday.