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Daimler Profit Rises 8% on Strong Mercedes-Benz Demand

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Daimler Profit Rises 8% on Strong Mercedes-Benz DemandPhoto, wide shot, wide-angle lens, Grocery store, Midday, harsh overhead sunlight, directional sunlightt, photo by Thomas Heaton: https://img.midjourneyapi.xyz/temp/9a6c3fc6-53ff-4c6e-848b-263660ac3eb0.png

German automaker Daimler AG (OTC: DDAIF) said that strong sales of Mercedes-Benz luxury vehicles helped boost its third-quarter operating profit to 2.69 billion euros ($2.99 billion), up 8% from the third quarter of 2018.

But the company said that it will need to work harder to control costs as it shifts to electric vehicles and reiterated that it expects full-year profit and cash flow to fall below last year's levels.

Data source: Daimler AG. As of Oct. 24, 1 euro = $1.11.

Source Fool.com

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