Daimler surges 5% on upbeat preliminary results

Friday, 16. October 2020 10:03

Shares of Daimler AG surged over 5% on Friday after the carmaker reported better-than-expected third-quarter results in its preliminary earnings report.

The company said its earnings before interest and taxes (EBIT) came in significantly above expectations at € 3.07 billion, while adjusted EBIT stood at €3.48 billion. Daimler also noted it "expects a positive impact for the remainder of the year" under the assumption there are no more COVID-19 lockdowns. The carmaker is scheduled to post its final results for the third quarter and updated 2020 guidance on October 23.

Daimler soared 5.21% at 10:02 am CET.

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Breaking the News / NP