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Daimler Q1 profit climbs 72.6% YOY

Daimler AG said its normalized net income for the first quarter was €1.57 per share, compared with the S&P Capital IQ consensus estimate of €1.50 per share.

EPS climbed 72.2% year over year from 91 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €1.68 billion, an increase of 72.6% from €976.0 million in the prior-year period.

The normalized profit margin climbed to 4.7% from 3.3% in the year-earlier period.

Total revenue grew 16.2% year over year to €34.24 billion from €29.46 billion, and total operating expenses grew 14.4% from the prior-year period to €31.37 billion from €27.41 billion.

Reported net income grew 91.1% year over year to €1.96 billion, or €1.83 per share, from €1.03 billion, or 96 cents per share.