Daimler net profit up 49 percent in 3rd quarter as revenue rises, company gains on stake sale

IndustriesAssociated Press

Automaker Daimler says its net earnings rose by nearly half in the third quarter as revenue rose 10 percent and the company booked a one-time gain from the sale of a stake in a maker of heavy-duty engines.

Daimler AG on Thursday reported a net profit of 2.82 billion euros ($3.6 billion) for the July-September period, a 49-percent rise from last year's 1.9 billion euros. Revenue rose to 33.12 billion euros from 30.1 billion euros.

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Daimler said it gained 1 billion euros in the quarter from the sale of its stake in Rolls-Royce Power Systems Holding.

The company sold 637,423 vehicles, a 7-percent gain over a year earlier. CEO Dieter Zetsche said that "both the product offensives and the efficiency programs are taking effect" across the company.