Daimler raises earnings outlook after Q2 profit

BERLIN: Car maker Daimler AG say it made a second-quarter profit of euro1.3 billion (nearly $1.7 billion) and has raised its full-year outlook substantially.

The April-June earnings figure contrasted with a loss of nearly euro1.1 billion a year earlier.

Daimler said Tuesday it is now targeting full-year earnings before interest and taxes (EBIT) of euro6 billion. It previously had forecast EBIT of more than euro4 billion.

Daimler had said in a preliminary report earlier this month that it would raise its full-year outlook after strong sales of Mercedes-Benz cars pushed up revenue by 28 percent in year-on-year terms.