May 6, 2020 / 5:49 AM / a month ago

BMW reports first-quarter profit rise as coronavirus saps demand

FRANKFURT, May 6 (Reuters) - BMW AG on Wednesday reported a 133% rise in first-quarter operating profit, due to the absence of a one-off provision in the year-earlier period, but said the impact of the coronavirus could erode demand and profit.

Earnings before interest and taxes rose to 1.38 billion euros ($1.50 billion) versus 589 million euros in the same period a year earlier. Its earnings before interest and taxes (EBIT) margin for its autos division reached 1.3% from a negative 1.6% margin in the year-earlier period. ($1 = 0.9230 euros)

Reporting by Edward Taylor; Editing by Christopher Cushing

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