Automaker: Mercedes makes more profit after weak previous year's quarter
Mercedes-Benz reports a profit increase in the third quarter. However, champagne corks are unlikely to pop in Stuttgart as a result. This year's profit is likely to rise less sharply than expected.
Mercedes-Benz's profit rose by around 28 percent in the third quarter. The company's net profit grew from 1.19 billion euros to 1.52 billion euros from July to September. However, the outlook has worsened, leading Mercedes to lower its annual profit forecast on Tuesday. The company now expects its annual profit to be at the same level as last year, rather than significantly higher, due to a challenging environment in China and higher material costs. The quarterly revenue fell by 4.5 percent to 30.7 billion euros.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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