BMW posts surprise increase in profit as X5 SUV sales rise

Surprise results: BMW cars on display at a BMW showroom in Leipzig, Germany. BMW AG posted an increase in third quarter profit to US2.59bil. – Bloomberg

MUNICH: BMW AG posted a surprise 4.3% increase in third-quarter profit as demand for the 2-Series, 4- Series and X5 sport utility vehicle rose.

Earnings before interest and taxes increased to 2.35 billion euros (US$2.59bil) beating expectations for a decline to 2.16 billion euros, according to 13 analyst estimates compiled by Bloomberg.