VW Q3 profit jumps on record Audi, Porsche sales

[BERLIN] Germany's Volkswagen posted higher-than-expected operating profit in the third quarter, boosted by European and Chinese market buyers of its luxury Audi and Porsche models.

Underlying earnings at Europe's largest automotive group jumped 16 per cent to 3.23 billion euros (US$4.07 billion), VW said on Thursday, beating the top-end forecast of 3.09 billion euros in a Reuters poll of analysts.

The German group stuck to its profit guidance calling for an operating margin between 5.5 per cent and 6.5 per cent, after 5.9 per cent last year.

It also confirmed guidance for revenue within a range of plus of minue 3 per cent of last year's record 197 billion euros.

REUTERS