Volkswagen Profit Beats Estimates as Porsche Boosts Earnings
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Volkswagen AG posted third-quarter operating profit that beat estimates as the financial contribution from the Porsche sports-car brand surged and the automaker reined in spending.
The shares gained the most in almost 16 months after Wolfsburg, Germany-based VW said earnings before interest and taxes rose 20 percent to 2.78 billion euros ($3.82 billion), exceeding the 2.72 billion-euro average estimate of 10 analysts.