Chrysler Group LLC reported an $84 million net loss for the third quarter of 2010, the only one of the domestic makers to go into the red during the July-September period.
But the maker’s results nonetheless exceeded expectations announced a year ago, in the months after Chrysler emerged from Chapter 11 protection. And company officials are now projecting an operating profit of $700 million for the full year, up from an earlier outlook of $200 million.
The third-quarter results followed less than a week after Chrysler announced a 37% upturn in October sales, its seventh monthly increase in a row, and the biggest gain of any of the domestic Big Three. (October sales, Click Here.)
Chrysler said its revenues for the third quarter totaled $11.02 billion, a 5.2% gain. Excluding the cost of servicing the loans it has received from the U.S. Treasury as part of its 2009 bailout, Chrysler said it would have had a $239 million operating profit for the third quarter.