MILAN (AP) — Carmaker Fiat Chrysler Automobiles says its first-quarter earnings rose by more than a third as performance in Europe and Asia picked up.

The Italian-American carmaker said Wednesday that it made a net profit of 641 million euros ($ million) in the first quarter, up 34 percent from 478 million euros in the same period last year.

The carmaker, formed from the 2014 merger of Fiat and Chrysler, confirmed its 2017 targets, including net profit of 3 billion euros on net revenues of 115 billion-120 billion euros.

Fiat Chrysler said adjusted earnings before interest and taxes rose by 85 percent to 178 million euros in Europe and by 75 percent to 21 million euros in Asia. In North America, adjusted earnings were flat at 1.24 billion euros.