By David Sachs

BMW shares rose Friday after the car maker reported a higher earnings margin for the automotive segment in the third quarter.

At 0854 GMT, shares in the German company were up 3.4% to EUR94.20.

The car division's earnings before interest and taxes rose to 3.135 billion euros ($3.33 billion) from EUR2.87 billion. The division's EBIT margin finished the quarter at 9.8%. It was 8.9% a year ago.

BMW backed its guidance, which includes an EBIT margin between 9% and 10.5% for the automotive segment.

Write to David Sachs at david.sachs@wsj.com

(END) Dow Jones Newswires

November 03, 2023 05:29 ET (09:29 GMT)

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