Daimler’s second-quarter operating profit rose 15 percent, below expectations, despite booming sales of the new Mercedes-Benz cars helping to lift margins in the autos business to 10.2 percent.

Daimler’s group earnings before interest and taxes rose to 3.74 billion euros in the second-quarter, below the 3.807 billion euros seen in a Reuters poll of banks and brokerages.

Mercedes-Benz Cars sold 595,200 automobiles thanks to a 28 percent rise in demand in China, with demand in Germany only moderately higher.

The Stuttgart-based company lifted the outlook for its trucks and vans divisions, saying it now expected earnings before interest and taxes (EBIT) to reach prior-year levels for both businesses. It had earlier forecast Vans and Buses to post EBIT below year-earlier levels.

Source: Tech CNBC
Daimler reports booming sales of Mercedes-Benz cars thanks to 28% rise in demand from China