Daimler Says Q2 Operating Profit In Line With Internal Expectations, Stock Up

(RTTNews) - Germany's Daimler AG (DDAIF.PK) Friday said its second-quarter operating profit totaled 5.2 billion euros and the car giant generated revenues of 29.7 billion euros. Announcing the preliminary figures for the quarter, the company said the results were largely in line with its internal expectations. The stock is up over 4 percent in Frankfurt.

The profit included a benefit of 3.2 billion euros related to the sale of stake in Airbus maker European Aeronautic Defence and Space Co. or EADS NV (EADSF.PK, EADSY.PK).

Earnings Before Interest and Tax, or EBIT, for Mercedes-Benz Cars totaled 1.041 billion euros on revenues of 16.3 billion euros.

Mercedes-Benz Vans reported EBIT of 204 million euros and generated 2.4 billion euros in revenue.

Daimler Trucks reported operating profit of 434 million euros, including negative 82 million euros for restructuring. The division's revenue totaled 8 billion euros.

Operating profit at Daimler Buses was 27 million euros, including negative 20 million euros for restructuring, and revenue amounted to 0.9 billion euros.

Daimler said its current EBIT forecasts for the Group and its divisions continue to apply unchanged.

On the basis of unchanged assumptions for further development of key markets and the ongoing growth initiatives and efficiency programs, the automaker continues to assume that EBIT in the second half of the year will be higher than in the first half.

The stock is up 4.14 percent on the Xetra at 51.35 euros.