By Leftlane Staff
Thursday, Jul 27th, 2006 @ 9:14 am

During the second quarter, Daimler Chrysler earned $2.37 billion, an 11 percent increase from the same period a year ago, when the company earned $942 million. Second quarter revenues were $49.3 billion, about equal with last year’s levels. The earnings improvement was primarily due to the significant increase in operating profit achieved by the Mercedes Car Group. The Mercedes Car Group reported an operating profit of $1.06 billion — a substantial improvement compared with the second quarter of last year’s $15.8 million. The Chrysler Group earned $65 million, down from $695 million during the second quarter of 2005. Revenues dipped to $15.9 billion from $16.7 billion last year. While the division expects a third quarter loss of up to $600 million due to costs of reducing inventories and new vehicle launches, the Chrysler Group expects to be back in the black for the fourth quarter and for the year as a whole. Overall, DaimlerChrysler expects an operating profit of $7.9 billion for the year as a whole.

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