Volkswagen AG's net profit rose in the second quarter, fueled by increases in sales--further distancing the car maker from the hit from the emissions-cheating scandal that erupted in 2015.
Second-quarter net profit came to 3.19 billion euros ($3.72 billion), compared with EUR1.21 billion in the year-earlier period, the automaker said.
Second-quarter sales read EUR58.67 billion, up 4.7% from a year earlier.
Net cash outflows in the automotive division came to EUR3.4 billion, largely due to payouts related to the diesel emissions scandal. The scandal has cost the company around $25 billion in fines, penalties and compensation so far.
Volkswagen tweaked its guidance for full-year sales, saying it expects them to rise by more than 4% compared, to the "up to" 4% forecast previously. The company maintained its forecast for an operating return of sales between 6% and 7%.
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(END) Dow Jones Newswires
July 27, 2017 03:22 ET (07:22 GMT)