Daimler net profit up 49 per cent in 3rd quarter as revenue rises, company gains on stake sale

BERLIN – Automaker Daimler says its net earnings rose by nearly half in the third quarter as revenue rose 10 per cent and the company booked a one-time gain from the sale of a stake in a maker of heavy-duty engines.

Daimler AG on Thursday reported a net profit of 2.82 billion euros ($3.6 billion) for the July-September period, a 49-per cent rise from last year’s 1.9 billion euros. Revenue rose to 33.12 billion euros from 30.1 billion euros.

Daimler said it gained 1 billion euros in the quarter from the sale of its stake in Rolls-Royce Power Systems Holding.

The company sold 637,423 vehicles, a 7-per cent gain over a year earlier. CEO Dieter Zetsche said that “both the product offensives and the efficiency programs are taking effect” across the company.