UPDATE 2-Volkswagen 1st qtr profit up but misses forecasts

Newswire

(Adds details, analyst comment) By Christiaan Hetzner FRANKFURT, April 28 (Reuters) - Volkswagen AG , the world's fourth-largest carmaker, increased first-quarter operating profit by 55 percent, but missed market forecasts due to a weaker-than-expected improvement at its core VW brand. The news sent VW shares down by as much as 4.8 percent just a day after DaimlerChrysler stock declined sharply following a poor set of quarterly results, after investors grew overoptimistic over the pace ...

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