Volvo Reports 3Q Profit

October 22, 2010

Swedish truck maker AB Volvo on Friday swung to a third-quarter net profit and maintained its 2010 truck-market growth forecast for heavy-duty trucks in North America.

The world's second-largest truck maker by sales behind Germany's Daimler AG said net profit for the quarter was 2.81 billion Swedish kronor ($421.2 million), compared with a net loss of 2.92 billion kronor in the same period a year earlier. Sales rose 32% to 64 billion kronor from 48.5 billion kronor, beating market expectations.

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--Wall Street Journal

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