February 1, 2018 / 7:24 AM / 6 months ago

Daimler warns spending on new technology to dampen earnings growth

STUTTGART, Feb 1 (Reuters) - Daimler warned that earnings growth will be dampened by ongoing spending on new technologies as it posted fourth-quarter operating profit which missed analyst expectations and reported a narrower sales margin for its Mercedes-Benz Cars business.

The return on sales at Mercedes-Benz Cars shrank to 9.7 percent in the fourth quarter through end-December, down from 10.7 percent a year earlier, even as unit sales rose by 4 percent, Daimler said on Thursday.

Quarterly earnings before interest and taxes (EBIT) were flat, reaching 3.47 billion euros ($4.30 billion), and missed analyst expectations of 3.65 billion euros. ($1 = 0.8070 euros) (Reporting by Edward Taylor; Writing by Maria Sheahan)

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