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Updated Friday, February 10, 2012 12:36 am TWN, AP



	Dieter Zetsche, center, CEO of German auto giant Daimler, is flanked by the members of the board as they pose next to a Mercedes-Benz SL 500 during the company's annual press conference in Stuttgart, Germany, Feb. 9. (AFP) Enlarge Photo

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Mercedes helps Daimler to 57 percent profit rise in Q4

FRANKFURT, Germany -- German automaker Daimler AG delivered forecast-busting fourth quarter earnings on Thursday as its flagship Mercedes business enjoyed buoyant sales in China and the United States.

The Stuttgart-based company said its net profit in the fourth quarter rose 57 percent to 1.78 billion euros (US$2.36 billion), way up on market expectations for a more modest rise to 1.30 billion euros. Revenue was also higher than anticipated, up 10 percent to 29.06 billion euros, and against forecasts of 27.70 billion euros.

A more detailed look at the figures shows that Daimler benefited from a strong performance of its Mercedes luxury brand, which saw sales jump in two key markets. They were up 42 percent in China and 44 percent in the United States.

On a downbeat note, the company said the eurozone debt crisis would weigh on the European auto market, which it expects to remain flat. It said it was looking to Asian emerging markets, Japan and North America for stronger demand.

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