Daimler Stocks Gain After Posting Q2 Earnings
Ryan Joseph Ramos July 15, 2013
After Daimler released its pre-audit Q2 earnings report and confidently stated that the Group was on track to meet 2013 forecasts, the stocks of the company that owned Mercedes-Benz shot up immediately, becoming the biggest gainer in the Frankfurt stock exchange with a 5.3-percent rise.
With the solid EBIT and continued efforts to make operations more efficient, traders no doubt saw this as a positive sign for the German company. €29.7 billion (around $39 billion) in revenue is nothing to scoff at, even if the final figures won’t be released until July 24.
Daimler AG’s sale of EADS (European Aeronotic Defence and Space Company N.V.) stake also figured into earnings for the quarter, as it amounted to some €3.2 billion (around $4.18 billion).
Here’s more from the Daimler AG statement:
On the basis of our unchanged assumptions for the further development of our key markets and the ongoing growth initiatives and efficiency programs, we continue to assume that EBIT in the second half of the year will be higher than in the first half.
We’ll see if the overall outlook for Daimler AG and its various divisions continue the upward trend in Q3. Considering all the initiatives and results of ongoing programs, it is fair to expect solid performance in the second half of 2013.
