The shortage of semiconductors, faltering supply chains and rising costs have meant that Volkswagen's profits have not shrunk as much as feared.
The operating result before special items fell in the second quarter by 27.7 percent to 4.7 billion euros, as the Wolfsburg-based car group announced on Thursday.
Analysts surveyed by Refinitiv had expected an average of just under 4.6 billion euros.
Sales increased by three percent to 69.5 billion euros in the period from April to June.
For the first half of the year, the operating result before special items increased by 16.1 percent to around 13.2 billion euros.
After taxes, 10.6 billion euros were booked.
Chief Financial Officer Arno Antlitz said Europe's largest car group had "demonstrated considerable financial resilience" despite "unprecedented global challenges".
forecast confirmed
For the second half of the year, VW is also assuming that the supply chain problems will ease 2022 still not yet conclusively judged," Volkswagen qualified in its outlook.
At the beginning of the year, it was primarily the particularly profitable luxury-class brands that carried the Group through the ailing global auto market.
Volkswagen confirmed the outlook for 2022 just under a week after the decision to replace CEO Herbert Diess with Porsche boss Oliver Blume.
Accordingly, the operating return should be in a range between 7.0 and 8.5 percent.
In the second quarter, Volkswagen achieved an EBIT margin of 6.8 percent (previous year: 9.7 percent).
Sales for the year as a whole are expected to be eight to 13 percent higher than in the previous year.
Competitor Mercedes-Benz had raised its forecast.