Deals
VW Quarterly Profit Beats Estimates on Porsche Deliveries
This article is for subscribers only.
Volkswagen AG, Europe’s largest automaker, said first-quarter operating profit rose 22 percent, helped by record sales at the luxury Porsche and Audi brands.
Earnings before interest and taxes increased to 2.86 billion euros ($3.97 billion) from 2.34 billion euros a year earlier, the Wolfsburg, Germany-based manufacturer said in a statement today. Profit beat the 2.74 billion-euro average of nine analyst estimates compiled by Bloomberg. Revenue gained 2.7 percent to 47.8 billion euros.