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Volkswagen Q1 profit climbs 23.5% YOY

Volkswagen Aktiengesellschaft said its first-quarter normalized net income was €5.10 per share, compared with the S&P Capital IQ consensus estimate of €5.56 per share.

EPS increased 20.9% year over year from €4.22.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €2.55 billion, a gain of 23.5% from €2.07 billion in the year-earlier period.

The normalized profit margin increased to 4.8% from 4.3% in the year-earlier period.

Total revenue climbed 10.3% on an annual basis to €52.73 billion from €47.83 billion, and total operating expenses climbed 9.7% from the prior-year period to €49.27 billion from €44.93 billion.

Reported net income increased 20.5% from the prior-year period to €2.89 billion, or €5.76 per share, from €2.40 billion, or €4.88 per share.