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Volvo shares hit record as profit, order intake shine in third-quarter

The broad upturn in demand was also in evidence in Daimler's quarterly results

Reuters  |  Stockholm 

Sweden's AB Volvo reported a bigger-than-expected rise in quarterly core earnings on Friday as stronger demand for heavy trucks more than offset costs stemming from strains on its supply chain, sending its shares to a record high. Sweden's biggest manufacturer by sales also raised its outlook for truck markets on both sides of the North Atlantic this year and forecast a further strong recovery in sales of commercial vehicles in North America in 2018. "These are blow-out numbers," said analyst Hampus Engellau at Handelsbanken Capital Markets, which rates the ...

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First Published: Fri, October 20 2017. 17:09 IST