BERLIN (AP) -- Tire and car parts maker Continental AG has reported a third-quarter net profit, helped by a 22 percent rise in revenue, and lifted earnings targets as the auto industry pulls out of the economic crisis.
Continental reported Wednesday earnings of €14.1 million ($19.7 million) for July-September compared with a loss of €1.04 billion a year earlier. Sales rose to €6.49 billion from €5.34 billion.
The company says it is raising its full-year outlook and now expects revenue of more than €25 billion. But it cautioned that net earnings won't keep pace with an improved pre-tax profit margin because of expenses related to a loan and tax assets.
Continental earned €363 million in January-September after losing nearly €1.5 billion a year earlier. Sales climbed to €19.14 billion from €14.4 billion.
Continental reported Wednesday earnings of €14.1 million ($19.7 million) for July-September compared with a loss of €1.04 billion a year earlier. Sales rose to €6.49 billion from €5.34 billion.
The company says it is raising its full-year outlook and now expects revenue of more than €25 billion. But it cautioned that net earnings won't keep pace with an improved pre-tax profit margin because of expenses related to a loan and tax assets.
Continental earned €363 million in January-September after losing nearly €1.5 billion a year earlier. Sales climbed to €19.14 billion from €14.4 billion.
