Iveco truck maker  CNH Industrial (CNHI - Get Report)   reported net profit of $129 million and diluted earnings per share of 10 cents for the second quarter on Tuesday, in line with analysts' expectations.

The group reported revenue of $6.7 billion, down 2.9% when compared with the second quarter of 2015, but a smaller decline than it reported in the previous quarter.

Second-quarter earnings per share of 10 cents were just over 10% higher than a year earlier.

Revenue at CNH's agriculture and construction equipment divisions still contracted during the second quarter and the first half, but this was partially offset by mid-single digit growth in the commercial vehicles and powertrain divisions.

Revenue from the agriculture division fell by 7.5% to $2.8 billion in the second quarter, and by 12.1% to $5.6 billion in the first half. Construction equipment revenue was down by 19.6% to $595 million in the second quarter and 15.7% to $1.1 billion in the first half.

Revenue from commercial vehicles was up by 5.1% in the second quarter to $2.5 billion and 3% to $4.6 billion in the first half.  Sales from the powertrain division rose by 8% in the second quarter to just over $1 billion and 3.1% in the first half to $1.9 billion.

Contributions to the bottom line were strongest from agricultural equipment, commercial vehicles and the powertrain unit after stronger margins helped to boost all three divisions. The group's operating margin increased to 7% from 6%. Net debt fell by 12.5% to $2.1 billion during the period.

CNH Industrial stock rose as much as 5.6% to $6.89 in pre-market trading. The shares have lost half of their value since late 2013 following a string of disappointing earnings reports.

CNH's financial performance has been uninspiring since it came into existence following the merger of Fiat Industrial and CNH Global in 2013, with revenue and earnings falling in each of the following years.

In 2015, revenue fell by 20% and net profit  by nearly 75% amid widespread capital expenditure cutbacks among CNH's clients.

The biggest historical declines in dollar terms has been experienced in the North American Free Trade Area and in Europe, across both the agricultural equipment and commercial vehicle segments, with management citing weak demand.

CNH derives 50% of its income from Europe, 25% from the North American Free Trade area and the remaining 25% from Asia Pacific and Latin America.

The current analyst consensus for earnings per share suggests that CNH will break with tradition in 2016 and report its first improvement in the bottom line since the 2013 merger. The consensus estimate for 2016 earnings per share is 35 cents, which implies an increase of 21% upon the prior year.