Daimler Returns to Profit in 2Q

Daimler AG said Tuesday that it earned $2.74 billion (2.1 billion euros) in the second quarter, matching a forecast from earlier in July, the Associated Press reported.

The profit compares with a $1.38 billion (1.06 billion euros) loss a year earlier, the German truck maker said.

Revenue in the quarter grew 28% to $32.7 billion (25.1 billion euros). Car and commercial vehicle sales gained 27% to 496,500.

Daimler expects a full-year profit of $7.8 billion (6 billion euros), compared with an earlier forecast of $5.2 billion (4 billion euros), AP said.

Daimler Trucks saw an operating profit of $391 million (300 million euros), compared witha loss of $787.3 million (604 million euros) the previous year, Bloomberg reported.

The truck unit will account for $1.3 billion (1 billion euros) of the expected full-year profit, AP reported.