DaimlerChrysler Sales Get a Lift

DaimlerChrysler's ( DCX) earnings fell, but third-quarter revenue rose 9%, and the German-American automaker said it still expects a slight increase in unit sales for the full year.

The company recorded an operating profit of $2.2 billion in the third quarter, compared with $1.6 billion a year ago. Net income was $910 million, or 89 cents a share, down from $1.15 billion, or $1.13 a share, last year.

DaimlerChrysler's third-quarter worldwide unit sales rose 9% to 1.2 million vehicles, while total revenue reached $46 billion.

For 2005, DaimlerChrysler expects "dynamic growth" in demand for cars to continue in emerging markets, while only slight gains are seen in North America, western Europe and Japan. Compared with last year, unit sales should be a little higher.

DaimlerChrysler also projected a significant increase in revenue in 2005. Earnings guidance was unchanged, with the company saying it's looking for a slightly better operating profit than the $7 billion posted last year.

Earlier this month, Ford ( F) had a third-quarter loss of $291 million, or 16 cents a share, from continuing operations, and revenue of $34.7 billion. GM's ( GM) latest quarter showed a loss of $1.6 billion, or $2.89 a share, with a top line of $47.2 billion.

Separately, DaimlerChrysler said Steven J. Landry will take over as president and CEO of the company's Canada unit, effective Nov. 1. He's replacing Mark Norman, who's leaving the company.

More from Stocks

Quick Read: 3 Things for Investors to Know Before Wednesday's Trading Session

Quick Read: 3 Things for Investors to Know Before Wednesday's Trading Session

Replay: Jim Cramer on the Markets, Oil, General Electric, Zillow and Micron

Replay: Jim Cramer on the Markets, Oil, General Electric, Zillow and Micron

Pegasystems Founder Explains Why He Has One of the Hottest Tech Stocks Around

Pegasystems Founder Explains Why He Has One of the Hottest Tech Stocks Around

Micron Shares Soar; Chipmaker Is 'Managing for Profitability' Now, Says Analyst

Micron Shares Soar; Chipmaker Is 'Managing for Profitability' Now, Says Analyst

Dow Slips 178 Points; S&P 500 and Nasdaq Also Decline

Dow Slips 178 Points; S&P 500 and Nasdaq Also Decline