Buffett-Backed BYD's Q3 Earnings Up 3000% As China EV Sales Bounce Back

BYD Company Limited (OTC: BYDDF) enjoyed robust earnings in the third quarter due to a bounce-back in demand for electric vehicles in China and increased sales of face masks.What Happened: The Chinese automaker backed by Berkshire Hathaway Inc (NYSE: BRK-A) (NYSE: BRK-B) Chairman Warren Buffett released its third-quarter results on Thursday.Sales rose 41% to $6.67 billion in the three months through September, while the automaker’s net profit increased 1,362% to $262.1 million (RMB 1.75 billion). Earnings per share rose 3,000% from the similar quarter a year ago at $0.093 (RMB 0.62).The company said its new flagship model “Han” and …read more

Source:: Yahoo Finance


Did you enjoy this article? Join our FREE Newsletter!
I agree to have my personal information transfered to MailChimp ( more information )
Join over 100,000 investors and business leaders worldwide. Get the latest actionable business and investing intelligence before the rest of the crowd.
We hate spam. Your email address will not be sold or shared with anyone else.