Automaker Daimler AG saw first-quarter net profit fall 11 percent due to shifting currency exchange rates and one-time gains in the year-earlier quarter. For the first quarter, net profit was 2.35 billion euros ($2.85 billion), down from 2.65 billion euros a year earlier, when the company's Mitsubishi Fuso truck business sold real estate worth 267 million euros. CEO Dieter Zetsche pointed to a 7 percent increase in vehicle unit sales in the quarter, to 807,000 vehicles worldwide. Daimler is counting on continued strong profits to fund its investments in new technologies expected to reshape the auto industry. Revenue increased 3 percent to 39.78 billion euros ($48.2 billion) and the Mercedes division's profit rose 3 percent.

Source: ABC News April 27, 2018 06:43 UTC