Germany's Daimler AG said Wednesday that it lost euro1.06 billion ($1.51 billion) in the second quarter as the recession hurt car and truck sales and the company took charges related to its stake in Chrysler. But the company saw signs of a turnaround and its shares rose. The loss in the April-June period compared with a profit of nearly euro1.3 billion a year earlier. Analysts surveyed by Thomson Reuters had expected a net loss of euro1.5 billion.
Despite the third quarterly loss in a row, the company predicted a "gradual improvement" in its operating profit in the coming months. The news helped push Daimler shares up 5.3 percent to euro31.67 in Frankfurt trading.
2009 Comicon Photo Gallery
2009 Frankfurt Auto Show Photo Gallery
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