Daimler's revenue jumps 8% to €43.3B in Q3

Thursday, 24. October 2019 07:07

Daimler AG reported on Thursday that its revenue stood at €43.3 billion in the first quarter of 2019, jumping 8% compared to the same period a year ago and topping market estimates.

The carmaker's net profit increased 3% year on year to €1.8 billion and earnings per share (EPS) rose 2% to €1.61. The company's EBIT grew 8% to €2.7 billion and sales were up 6% to 839,300 units in the three-month period, with Mercedes-Benz Cars sales jumping 8% to 604,700 vehicles.

"Strong sales at Cars and Vans supported our Q3 financial performance. However, in order to master the transformation in the next few years, we need to increase our efforts considerably: We have to significantly reduce our costs and consistently strengthen our cash flow," Chairman Ola Kaellenius stated.

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Breaking the News / NP