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