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UPDATE 1-DaimlerChrysler second-quarter profit plunges.
(From CBS Marketwatch (Stories))
Byline: Sudeep Reddy
SAN FRANCISCO (CBS.MW) -- DaimlerChrysler on Thursday posted just $100 million in second-quarter net earnings, a dramatic 90 percent decline after its Chrysler Group operations lost more than $1 billion.
On a per-share basis, earnings totalled 13 cents for the second quarter, down from $1.27 a share, or $1.3 billion, last year. Analysts polled by Thomson First Call forecast a profit of 7 cents a share.
The company's Mercedes Benz auto operations brought in the most revenue and earnings of any of the Stuttgart-based automaker's operations.
Operating earnings for the quarter came to $737 million, down 62 percent from $1.94 billion last year.
Total DaimlerChrysler quarterly revenue fell to $39.5 billion from $45.2 billion last year as worldwide auto sales fell almost 8 percent to 1.2 million vehicles. The company also blamed the euro's appreciation for the revenue shortfall.
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