BYD reported third-quarter net profit of 10.02 billion yuan ($1.50 billion), a 28% increase. Revenue rose 13.6% to 221.5 billion yuan. Quarterly profit fell short of analysts’ forecasts, which ranged from 11.4 billion to 12.95 billion yuan.
Persistent weakness and intense competition in China weighed on results, while strong export growth partly offset the pressure. Quarterly revenue growth ended a four-quarter streak of declines.
For the first nine months of the year, revenue was flat. Net profit declined 4.2%, underscoring the challenges BYD faced earlier in the year.