© Reuters. FILE PHOTO: A Volkswagen logo is seen on one of the German automaker’s cars in a street in Sydney, Australia, October 8, 2015. REUTERS/David Gray/File Photo
BERLIN (Reuters) – Volkswagen (ETR:) reported earnings of 4.3 billion euros ($4.29 billion) in the third quarter with revenue of 70.7 billion euros and a 6% margin, weighed down by the suspension of activities in Russia and the cost of listing Porsche AG.
It also suffered a €1.9 billion non-cash impairment charge resulting from the write-down of its investment in Argo AI, a self-driving startup it jointly owned with Ford Motor (NYSE:) Co until both companies shifted spending away from the business on Wednesday.
Still, Volkswagen maintained its outlook for the year of hitting the upper end of a 7-8.5% earnings margin.
($1 = 1.0022 euros)
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