Automaker Audi's 1Q revenues rise 23.3 percent

BERLIN: Audi AG, the maker of luxury cars including the TT, A5 and A8, says its first-quarter operating profit and revenues have risen on demand in the U.S., China and parts of Europe.

The company, a unit of Volkswagen AG, said Monday that its operating profit in the first quarter was euro478 million ($636.5 million), up 32 percent from the euro363 million it reported a year earlier. It did not provide net profit figures. Operating earnings exclude financial items such as interest and taxes, as well as one-time gains and losses.

Revenues rose by nearly 24 percent to euro8.3 billion in the January-March period compared with euro6.7 billion last year.