Daimler 2nd-Quarter Net Profit Up Slightly at EUR2.44 Billion

By William Wilkes Features Dow Jones Newswires

German luxury-car maker Daimler AG (DAI.XE) on Wednesday said net profit rose slightly in the three months ended June 30, helped by a record quarter for global car and commercial-vehicle sales.

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The maker of Mercedes-Benz cars said second-quarter net profit rose to 2.44 billion euros ($2.84 billion), up from EUR2.43 billion a year ago.

Revenue increased by 7% to EUR41.2 billion, the company said.

Analysts polled by Dow Jones had expected net profit of EUR2.62 billion and revenue of EUR41.28 billion.

The auto maker said earnings growth at its cars division was supported by new-model sales and favorable base effects. However, earnings at its trucks division fell, Daimler said.

The company confirmed its 2017 guidance, assuming revenue will increase significantly this year.

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Write to William Wilkes at william.wilkes@wsj.com

(END) Dow Jones Newswires

July 26, 2017 02:15 ET (06:15 GMT)