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BMW enjoys strong Europe, Asia sales but cautious on outlook

Luxury automaker BMW says net profit rose 8.2 percent in the first quarter thanks to strong sales in Europe and Asia, but the company gave a restrained outlook for the rest of the year.

Profit rose to 1.64 billion euros ($1.88 billion) from 1.52 billion euros a year earlier. The figure, however, was short of the consensus estimate for 1.68 billion euros as compiled by financial information provider FactSet and BMW was cautious about the months to come.

In its quarterly report Tuesday, it said earnings would "increase slightly" and cautioned that the company faced rising personnel costs and high levels of investment in new projects and technology. Long-term...

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