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BMW reported a 21 percent jump in first-quarter profit on stronger demand in the U.S. and Europe for models such as the X5 SUV.

Earnings before interest and taxes increased to 2.52 billion euros ($2.83 billion) from 2.09 billion euros a year earlier, BMW said today in a statement. Revenue jumped 15 percent to 20.9 billion euros.

BMW said its automotive EBIT margin was 9.5 percent in the quarter, remaining at a similar level to the year-earlier quarter and at the upper end of its target range of between 8 percent and 10 percent, thanks to record sales of high-margin SUVs in the quarter.

By contrast, the quarterly return on sales from ongoing business at Daimler's Mercedes-Benz Cars jumped to 9.2 percent from 7 percent a year ago, while Audi's operating margin slipped to 9.7 percent from 10.1 percent.



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BMW Silences Pundits With A 21% Jump in Profits For Quarter

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