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Daimler's First-Quarter Earnings Surge on Mercedes Success

  • Result includes positive revaluation of HERE, BAIC stakes
  • Mercedes deliveries rise at more than triple the rate at BMW
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Daimler 1Q Profit Surges on Rising Demand

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Daimler AG’s first-quarter profit almost doubled as surging demand for Mercedes-Benz cars like the new E-Class sedan helped to widen its sales lead over rival BMW AG.

Earnings before interest and taxes climbed to 4 billion euros ($4.24 billion) from 2.15 billion euros a year earlier, Stuttgart, Germany-based Daimler said in a statement late Tuesday, citing preliminary figures. The earnings included a total of 690 million euros of special items, such as revaluation of stakes in mapping business HERE and Chinese partner BAIC Motor Corp. Daimler stock rose the most in four months.