Diluted EPS was €1.54 compared to an EPS of €1.10 last year.
Porsche held €2.9 billion in cash and equivalents as of March 31, 2023.
"Markets around the world remain volatile – so we're all the more satisfied with our figures. The significant growth is due to a number of factors: higher Group sales, continued positive pricing and mix effects. We keep driving our strategy of modern luxury forward, in the interest of our customers," said Lutz Meschke, Deputy Chairman of the Executive Board and Board Member for Finance and IT at Porsche AG.
Outlook: Despite challenging circumstances worldwide, Porsche reaffirmed its targets for 2023. The assumption for Group sales revenue lies in the corridor of €40 billion-€42 billion.
"In the long run, we are aiming for a Group operating return on sales of more than 20 per cent," added Lutz Meschke.
Price Action: DRPRY shares closed at $12.20 on Tuesday.