Porsche first-quarter profit surges on Cayenne sales

Porsche said operating profit surged more than sevenfold in the fiscal first quarter on demand for the Cayenne SUV and Panamera sedan. Earnings before interest and tax advanced to 395 million euros ($526 million) between August and October from 52 million euros a year earlier, the Stuttgart-based manufacturer said. Sales climbed 80 percent to 2.1 billion euros.