Auto giant takes mammoth $2.1 billion loss

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Wednesday, April 25, 2001 | 10:55 a.m.

FRANKFURT, Germany -- Struggling auto giant DaimlerChrysler AG reported a mammoth loss for the first quarter but its operating shortfall was smaller than analysts had expected. Its ailing Chrysler division accounted for most of the losses but it also did slightly better than forecast.

DaimlerChrysler reported today it lost 2.36 billion euros ($2.1 billion) for the January-March period in contrast to a profit of 1.7 billion euros a year earlier.

But stripping out one-time gains and charges, DaimlerChrysler lost 373 million euros ($328 million), or 33 cents per share. That was less than the 47 cent per share loss expected by analysts surveyed by Thomson Financial/First Call.