Volkswagen reported a decrease in quarterly profit

In the first quarter of 2018, the German autoconcern Volkswagen reduced its net profit to 3.3 billion euros from 3.4 billion euros a year earlier. Operating profit amounted to 4.2 billion euros, decreased by 3.6%. Quarterly revenue increased by 3.6% to 58 billion 230 million euros. Analysts had predicted the figure at 59 billion 240 million euros. The production of cars fell by 0.4% to 2 million 727 cars. In the first quarter, 2 million 680 cars were delivered to customers, compared to 2 million 495 thousand cars delivered a year earlier. The company’s capitalization since the beginning of the year increased by 4% to 84 billion 760 million euros.

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