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VW profits meet expectations, warns of rising economic risks

The Volkswagen logo is displayed at Serramonte Volkswagen on November 18, 2016 in Colma, California.

Justin Sullivan | Getty Images

Volkswagen reported first-quarter earnings in line with expectations on Thursday, as the automaker attempts to increase the pace of its transformation.

The German firm posted operating profit of 3.9 billion euros ($4.4 billion) for the first three months of the year. That compared with operating profit of 4.2 billion euros a year earlier. Analysts polled by Reuters had expected first-quarter operating profit to come in at 3.9 billion euros.

Volkswagen did not provide a net profit figure.

Earlier this year, Volkswagen CEO Herbet Diess said the carmaker would need to redouble its efforts in 2019 in order to meet its ambitious annual targets.

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