Daimler revenue up in 2nd quarter, outlook intact but profit lower after 1-time gain in 2013

Published July 23, 2014

| Associated Press

Automaker Daimler AG is reporting a 6 percent increase in second-quarter revenue and confirming its full-year targets, though net profit declined sharply after being boosted last year by the sale of a stake in Airbus' parent company.

The maker of Mercedes cars said Wednesday that its net earnings for the April-June period were 2.2 billion euros ($3 billion), down from 4.58 billion euros a year earlier. Revenue climbed to 31.54 billion euros from 29.69 billion euros.

Daimler's unit sales were up 4 percent, with 628,900 cars and commercial vehicles sold.

The company has been helped by new Mercedes S-Class and E-Class models and by cost-cutting measures.

Daimler says it still expects "significant growth" over the full year in unit sales, revenue and pretax earnings.

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http://www.foxbusiness.com/markets/2014/07/23/daimler-revenue-up-in-2nd-quarter-outlook-intact-but-profit-lower-after-1-time/