Daimler AG on Friday reported a higher quarterly net profit despite a global semiconductor chip shortage that has pummeled the auto industry, as it focused on higher-margin cars and cost cutting.
The Daimler logo is seen before the Daimler annual shareholder meeting in Berlin, Germany, April 5, 2018. REUTERS/Hannibal Hanschkeon Friday reported a higher quarterly net profit despite a global semiconductor chip shortage that has pummeled the auto industry, as it focused on higher-margin cars and cost cutting.
The German premium carmaker posted a quarterly operating profit of 2.6 billion euros , up 18% from 2.2 billion euros for the same period in 2020. The company's revenue was almost flat at 40.1 billion euros versus 40.3 billion in the third quarter of 2020.Sign up for our newsletter Subscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.
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