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BMW's Q3 earnings surge as sales power ahead

BMW's Q3 earnings surge as sales power ahead

Luxury auto maker BMW AG says its third-quarter earnings have surged as revenue increased by more than a third thanks to the economic recovery and better selling prices.
BMW on Wednesday reported net profit of (EURO)871 million ($1.22 billion) for July-September _ up from a meager (EURO)76 million a year earlier. Revenue increased 35.6 percent to (EURO)15.94 billion from (EURO)11.76 billion.
BMW says its pre-tax profit of (EURO)1.36 billion _ up from (EURO)126 million a year earlier _ was its highest ever for a quarter. Unit sales rose 13 percent to 366,190 from 324,100.
The company said it is raising its full-year outlook and now expects a margin on earnings before interest and taxes at its automobile segment of more than 7 percent _ up from over 5 percent.


Updated : 2021-04-18 20:39 GMT+08:00