Volkswagen Posts Drop In Q3 Profit

Germany's Volkswagen AG

reported a drop in its third-quarter net profit. Volkswagen's quarterly net profit fell to 1.86 billion euros ($2.57 billion) from EUR11.27 billion, in the year-ago period. Its revenue declined 3.7% to EUR47 billion. Its operating profit fell to EUR8.6 billion in the first nine months of the year, from EUR8.9 billion, in the year-ago period. Volkswagen shares closed at $46.09 yesterday.