Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
BERLIN (AP) — Luxury car maker BMW says its net earnings jumped 27.2 percent in the second quarter as an improved model mix boosted the company's profitability and sales grew worldwide.
BMW AG said Tuesday that it earned 1.77 billion euros ($2.38 billion) in the April-June period, up from 1.39 billion euros a year earlier.
Revenue rose 1.8 percent to 19.9 billion euros, a figure dampened by currency effects. The company sold 5.3 percent more cars, delivering 533,187 vehicles.
The company confirmed its forecast that full-year deliveries to customers and pre-tax profit will both rise significantly.
However, it said the pace at which earnings increase in the second half will be influenced by high spending on new technology to reduce carbon dioxide emissions and cautioned that "the global economy also faces risks."
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
