By Niklas Pollard and Victoria Klesty Fri Apr 25, 4:27 AM ET STOCKHOLM (Reuters) - World number two truck maker Volvo AB posted first-quarter pretax earnings above market expectations on Friday and was more upbeat on its key European market, sending its shares sharply higher.Volvo reported pretax profit of 6.14 billion Swedish crowns ($1 billion) versus a year-earlier 5.41 billion and a mean forecast of 5.71 billion in a Reuters poll of 17 analysts.
"I think this report is more than okay," Danske analyst Henrik Breum said. "They've made a very good rebound on the trucks side. Even if they have a low order intake in Europe and don't see a rebound in the North American market, it looks like costs are under firm control."
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