Carmaker Fiat Chrysler Automobiles reported Thursday a 60 percent rise in net profit for the first quarter of the year as sales improved, particularly in the Americas, and demand rose globally for its Jeeps. The company said its profit of 1.02 billion euros ($1.24 billion) was up from 641 million euros in the same quarter a year earlier, though net revenue edged down 2 percent to 27.03 billion euros. Fiat Chrysler maintained its guidance for full-year earnings, saying it still expects net revenue of about 125 billion euros. One of Fiat Chrysler's goals has been to reduce its net debt and end 2018 with 4 billion euros in cash. Fiat Chrysler said Thursday that it had reduced its net industrial debt by 1.1 billion euros during the first quarter, to 1.3 billion euros.

Source: ABC News April 26, 2018 11:35 UTC