BMW posted first-quarter earnings that beat even the most optimistic analysts' expectations, helped by strong demand from China and the United States and a surge in sales of its most expensive sedan. Earnings before interest and taxes (EBIT) rose nearly 19 percent to 2.13 billion euros ($2.80 billion) from 1.8 billion euros a year earlier. The overwhelming bulk of this stemmed from its core car business, where EBIT as a percentage of revenue fell slightly to 11.6 percent. Analysts had expected 10.7 percent.
Sales rose 14 percent to 18.3 billion euros, the company said in a statement today.
Read Article