Daimler earnings beat analyst forecasts

Daimler's second quarter group earnings came in ahead of expectations on Thursday (July 15).

The German automaker reported earnings before interest and tax of just over $6.4 billion.

Mercedes-Benz car and truck divisions both beat forecasts.

Pricing and cost discipline drove the earnings higher, and offset any impact from a global shortage of semiconductors.

The world's largest truck and bus maker is undergoing major changes this year.

It aims to cut costs and capital expenditure in its truck unit by 15% by 2025.

And says it is on track to spin off the business by the end of the year.

Last month Daimler also said it was cutting working hours at some plants as car makers suffer due to a shortage of semiconductors.

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