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DaimlerChrysler 1st-Quarter Profit Rises

DaimlerChrysler's first-quarter profit rose even as the loss widened at the Chrysler Group it has agreed to sell to a private equity firm, the Associated Press reports.
The German-American automaker earned $2.67 billion in the January-March period. Analysts polled by Dow Jones Newswires had expected a profit of $1.88 billion.
The Chrysler Group, which is being sold to private equity firm Cerberus Capital Management in a $7.45 billion deal announced yesterday, lost $1.98 billion before interest and taxes, compared with a profit of $857 million a year earlier. The loss was the result of a $1.2 billion in restructuring charges.

Posted by   at 9:44 AM to Companies | Permalink

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