Updated from 5:48 a.m. EST
STUTTGART, Germany ( TheStreet) -- Daimler (DDAIF), the German carmaker, swung to a profit of €1.14 billion ($1.54 billion) in the fourth quarter from a year-earlier loss of €352 million as revenue jumped 24%.
Daimler, in a statement Wednesday, said 2010 profit was €4.67 billion vs. a loss of €2.64 billion in 2009.
Sales in the quarter rose to €26.4 billion from €21.32 billion. Sales in 2010 rose 24% to €97.76 billion.Daimler proposes to pay a dividend of €1.85 a share after not making a dividend payment in 2009. Daimler said fourth-quarter earnings before interest and taxes was €1.56 billion. Analysts surveyed by Thomson Reuters expected €2.05 billion. The carmaker said EBIT in 2010 was €7.27 billion, a swing from a year-earlier loss of €1.51 billion. It expects EBIT from the ongoing business in 2011 to "surpass the level of 2010 significantly." Daimler said it sold a total of 1.9 million vehicles in 2010, an increase of 22%. Unit Sales at Mercedes-Benz rose 12% in the fourth quarter and 17% in 2010. -- Written by Joseph Woelfel
>To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: email@example.com.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV