Volkswagen sales have gone up against all odds as the company has recently been plagued with an emissions scandal.
The German automaker reportedly cheated on its U.S. emissions tests by rigging the figures of its diesel engines in order to make them appear to be more environmentally friendly than they actually are.
The 2015 news has hit the company hard as it cost Volkswagen quite a bit, but the company was able to absorb the added costs and unveil improved earnings anyways somehow.
First-quarter profit rose 44% year-over-year for the company, surging to 3.4 billion euros ($3.7 billion), compared to the 2.4 billion euros posted a year ago.
The figure was stronger than the 3.1 billion euros that analysts were expecting, based on financial information provided by FactSet
based on a survey.
Revenue was also better than expected, coming in at an incredible 56.2 billion euros for the period. The figure was a 10% increase year-over-year.
It’s been a tough road for Volkswagen since its 2015 emissions scandal that caused the company to announce about six months ago that it would be cutting roughly 30,000 jobs.
Of these job cuts, 23,000 will occur in the country, but Volkswagen will also add 9,000 more employees that will be in training soon, resulting in a net loss of 14,000 workers.
The company reaffirmed its earnings goal for the full year.