Emmanuel Thomas I Thursday, July 27, 2023
FRANKFURT – German automobile major Mercedes-Benz Group on Thursday reported higher earnings for the second quarter of the fiscal 2023, on strong sales of top end cars and premium vehicles.
Click HERE to earn USD2K minimum monthly
The company also raised its full-year earnings and revenue outlook to its prior year level.
Quarterly earnings rose 14% to €3.64 billion ($4 billion) from €3.19 billion for the same period of last year. Earnings per share increased 15% to €3.34 from €2.91 the previous year.
EBIT increased 8% to €4.988 billion from €4.622 billion of the prior year. Adjusted EBIT increased 6% to €5.21 billion from €4.94 billion of last year.
Revenue grew 5% to €38.24 billion from €36.44 billion for the same period the previous year.
Looking ahead to fiscal 2023, the company raised its earnings and revenue outlook to its prior year level.
On Wednesday, shares of Mercedes closed at €69.96 down 1.77% on the Xetra stock exchange.
