Summary Box: Volkswagen AG

AP News
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Posted: Jul 28, 2011 1:48 PM
Summary Box: Volkswagen AG

THE RESULTS: Volkswagen AG's second-quarter net profit more than tripled to euro4.78 billion ($6.86 billion) from euro1.35 billion in the same quarter a year ago. It credited booming sales in emerging markets. Revenue rose 21.5 percent.

THE EXPECTATIONS: The German carmaker's net profit came in well ahead of analyst estimates. But the company fell just short of estimates on operating profit, a measure of earnings before interest and taxes.

CAUTIOUS OUTLOOK: Volkswagen warned of challenges in the coming months. "Volatile interest-rate and exchange rate developments as well as raw materials prices could weaken the positive volume effects," the company said.