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MUNICH: BMW AG showed signs of recovery under its new chief executive officer, beating analyst estimates in the third quarter on aggressive cost-cutting and demand for upscale models like the big X7 SUV.
After stumbling in recent quarters with low profitability and a series of operational and regulatory issues, BMW reported a 33% jump in earnings before interest and taxes to 2.29 billion euros (US$2.54bil) in CEO Oliver Zipse’s first quarter in charge. The figure beat analyst expectations of 2.12 billion euros.
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