FRANKFURT, Germany (AP) — German automaker Daimler AG says net profit fell 14 percent to 2.4 billion euros ($2.7 billion) in the third quarter, due to a large one-time gain a year ago from selling a stake in Rolls-Royce Power Systems Holding.
Otherwise the Stuttgart-based company saw record sales for its Mercedes-Benz brand of luxury cars and increasing profits from its ongoing businesses.
The company said Thursday it saw a strong sales contribution from its new C-Class sedan and its SUV models. Sales of Mercedes-Benz cars rose strongly in China, Britain, Italy and Spain.
Revenues rose 13 percent to 37.3 billion euros. Profits rose 31 percent to 3.6 billion euros, measured before financial items and excluding the 1.0 billion sales of the Rolls-Royce stake a year ago.
Chief financial officer Bodo Uebber credited a renewed and broadened model line and the increased profits and sales figures show that “we have the right products in the market.”
The company’s net profit figure beat estimates for 2.1 billion euros among analysts surveyed by financial information provider FactSet.
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