Bayerische Motoren Werke (BMWYY) posted third-quarter earnings that were largely in line with estimates Friday, boosting earnings per share by 15.1% as group revenues topped €23.3 billion ($25.9 billion).
BMW said earnings per share came in at €2.75, up from €2.39 over the same period in 2015, based on EBIT of €2.38 billion. Net profit advanced 15.3% from a year ago, the company said, to €1.821 billion. Sales margins, however, fell to 8.5% from 9.1% in third-quarter 2015.
"Overall, global automobile markets continued to expand during the first nine months of 2016. The pace of growth, however, varied from region to region," the company said in a statement. "The 4.1% year-on-year increase was primarily driven by markets in China and Europe, whereas demand in the USA, Japan and some emerging economies slowed."
BMW shares fell 1.3% in early Frankfurt trading, alongside a 0.8% decline for the benchmark DAX performance index, to change hands at €74.09 each.
Germany's powerful automotive sector, which produced 5.56 million vehicles in 2015, has undergone a number of challenges this year, linked both to an emissions scandal at Volkswagen (VLKAY) that has tainted brand sales and Britain's decision to leave the European Union, which threatens exports to one of its biggest and most important markets.