MILAN (AP) — Carmaker Fiat Chrysler Automobiles has reported a 60 percent rise in net profit for the first quarter of 2018.

The company said Thursday that its profit of 1.02 billion euros ($1.24 billion) was up from 641 million euros in the same quarter a year earlier, though net revenue edged down 2 percent to 27.03 billion euros.

Fiat Chrysler maintained its guidance for full-year earnings, saying it still expects net revenue of about 125 billion euros.

The carmaker said it shipped 1.2 million vehicles in the first quarter, up 5 percent from a year earlier. The boost was mainly due to improved sales in North and Latin America and a jump at its Jeep unit.