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Volkswagen’s Operating Profit Soars
Volkswagen AG reports its operating profit jumped 20% to €2.8 billion ($3.8 billion) in the third quarter in spite of a 4% drop in revenue to €47 billion ($64.5 billion).
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Volkswagen AG reports its operating profit jumped 20% to €2.8 billion ($3.8 billion) in the third quarter in spite of a 4% drop in revenue to €47 billion ($64.5 billion).
Net profit dropped 78% to €2.8 billion because earnings in the third quarter of 2012 benefitted from VW's consolidation of Porsche AG results.
The group sold 2.37 million vehicles worldwide, up 2%. Sales through the first nine months of 2013 grew 4% to 7.2 million units. The company reiterates that its expects flat full-year operating profits and an unspecified increase in revenue.
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