BERLIN/FRANKFURT Aug 1 German luxury carmaker
BMW said second-quarter operating profit in its key
automotive division fell in line with expectations, due to
increased spending on fuel-efficient technology and discounts in
embattled European markets.
The company said on Thursday that the segment's earnings
before interest and tax (EBIT) dropped 13 percent to 1.76
billion euros ($2.34 billion), matching a 1.77 billion-euro
consensus forecast in a Reuters poll.
This reduced its automotive EBIT margin by 2 percentage
points to 9.6 percent in the second quarter.
($1 = 0.7531 euros)
(Reporting by Andreas Cremer and Christiaan Hetzner; Editing by