Mercedes Powers Daimler's Profit Jump

FRANKFURT, Germany ( TheStreet) -- Daimler ( DDAIF), the German carmaker, said second-quarter earnings rose 30% to €1.7 billion ($2.46 billion) from €1.31 billion a year earlier as the Mercedes brand posted record profit.

Daimler said revenue rose 5% to €26.3 billion.

Mercedes recorded its strongest ever quarterly earnings before interest and taxes of €1.57 billion, up 14% from a year earlier.

Daimler, in a statement Wednesday, said group EBIT in 2001 "will very significantly exceed the level of 2010."

"With our excellent first half of the year, we are fully on schedule to turn 2011 into one of the most successful years in our long corporate history," said CEO Dieter Zetsche.

Profit also rose at Daimler's truck division, Mercedes van division, and financial services division.

-- Written by Joseph Woelfel

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