(STUTTGART, Germany) -- Daimler announced Friday it made a net profit of 1.8 billion euros in the first quarter of this year, nearly doubling what the German automaker made during the same time period the year before.
The promising figure gave the company high hopes for future business.
"We achieved excellent earnings in the first quarter," said Dr. Dieter Zetsche, Chairman of the Board of Management of Daimler AG and Head of Mercedes-Benz Cars. "This puts us well ahead of our planning and confirms our positive outlook for the year 2011."
The latest net profit compares to the 612 million euros Daimler made in the first quarter of 2010.
Daimler also reported a revenue of 24.7 billion euro, an increase from last year's 21.2 billion.
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