BEIJING, Oct 29 (Reuters) – Chinese electric vehicle maker BYD reported a smaller-than-expected 28% rise in third-quarter profit on Thursday, though strong export growth helped offset persistent weakness in its home market.
Net profit rose to 10 billion yuan ($1.50 billion) in the third quarter, a stock filing showed, cooling from a 30% increase in the previous quarter.
That missed estimates from three brokerages compiled by Reuters, whose estimates ranged from 11.4 billion yuan to 12.95 billion yuan.
Revenue was up 13.6% year on year at 221.5 billion yuan, reversing a 3% drop in the second quarter and ending a four-quarter streak of declines.
($1 = 6.6610 Chinese yuan renminbi)
(Reporting by Qiaoyi Li, Zhang Yan and Ju-min Park; Editing by Jan Harvey)
Brought to you by www.srnnews.com
