FRANKFURT: Carmaker Daimler AG turned in another strong quarter on Tuesday as four of its five divisions recorded higher earnings and the luxury Mercedes brand posted record profits.
Overall net profit was up a higher than expected 30 percent at (euro) 1.7 billion ($2.5 billion) from (euro) 1.3 billion a year ago, while revenues rose 5 percent to (euro) 26.3 billion.
Mercedes did particularly well, posting its strongest quarter ever with operating earnings rising 14 percent to (euro) 1.56 billion.
The company said 2011 would turn out better than expected and that operating earnings would ``very significantly exceed'' last year's results. Earnings of (euro) 1.51 a share in the second quarter outstripped expectations of (euro) 1.43.
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