BYD's third-quarter profit growth slows, falling short of forecasts
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BEIJING, Oct 29 : Chinese electric vehicle maker BYD reported a smaller-than-expected 28 per cent 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 per cent 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 per cent year on year at 221.5 billion yuan, reversing a 3 per cent drop in the second quarter and ending a four-quarter streak of declines.
($1 = 6.6610 Chinese yuan renminbi)
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