BERLIN (dpa-AFX) - German automotive giant Shares of Mercedes-Benz Group AG (MBGYY, MBGAF) reported Wednesday that its third-quarter net profit surged 104 percent to 4 billion euros from 1.96 billion euros a year ago.
Earnings per share were 3.66 euros, up 110 percent from 1.74 euros last year.
EBIT climbed 83 percent from the prior year to 5.20 billion euros, and adjusted EBIT grew 72 percent to 5.34 billion euros.
Revenue went up 19 percent to 37.72 billion euros from 31.65 billion euros in the prior year.
The results reflected robust demand and healthy pricing for cars and vans, as well as cost discipline. Mercedes-Benz saw robust demand especially for its Top-End and electric vehicles.
Mercedes-Benz Cars sales amounted to 530,400 vehicles in the third quarter, up 38 percent. Revenue increased 26 percent.
At Mercedes-Benz Vans, third-quarter unit sales grew 18 percent to 104,000 vehicles despite semi-conductor shortages, and revenue climbed 22 percent.
Mercedes-Benz Mobility revenue was down 4 percent to 6.60 billion euros.
Looking ahead for fiscal 2022, Mercedes-Benz continues to expect revenue at 'significantly above' 2021 levels. Group EBIT is now seen 'significantly above' the prior year, rather than 'slightly above.'
In Germany, Mercedes-Benz shares were trading at 58.52 euros, up 0.38 percent.
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