Daimler Misses on Earnings Estimates

Mercedez-Benz maker Daimler (DDAIF) missed full-year earnings estimates and provided cautious guidance for 2017 even as revenue came in modestly ahead of expectations.

The German carmaker said that revenue reached €153.3 billion ($165 billion) in the year ending Dec. 31, topping expectations for sales of €152.6 billion. However, earnings before interest and taxes came in at €12.9 billion, substantially below the Factset consensus for €13.4 billion. Earnings per share were reported at €7.97, against analyst expectations for €8.24.

"We have set our course in the direction of electric mobility and are establishing a new culture of cooperation together with our workforce," said chairman Dieter Zetsche.