Rutger van der Maar
The company achieved a record high net profit of 11.61 billion yuan ($1.63 billion) in July-September 2024, marking an 11.5% increase compared to the previous year.
Revenue grew by 24% to reach 201.12bn yuan ($28.24bn) and set a new record. For the first time, BYD outperformed the US-based Tesla that made $25.2bn in revenue for that quarter.
Analysts surveyed by Visible Alpha had an average expectation for the Chinese company to announce a net profit of 10.67 billion yuan with revenue of 204.86 billion yuan.
In January-September, BYD recorded an increase in R&D expenditure to 33.32 billion yuan from 24.94 billion yuan in the corresponding period the previous year.
From July to September, the company saw a 37.7 per cent increase in sales of approximately 1.135 million new-energy vehicles compared to the same period last year. For the first time, sales volumes surpassed 1 million units in a single quarter.
source: bloomberg.com
Revenue grew by 24% to reach 201.12bn yuan ($28.24bn) and set a new record. For the first time, BYD outperformed the US-based Tesla that made $25.2bn in revenue for that quarter.
Analysts surveyed by Visible Alpha had an average expectation for the Chinese company to announce a net profit of 10.67 billion yuan with revenue of 204.86 billion yuan.
In January-September, BYD recorded an increase in R&D expenditure to 33.32 billion yuan from 24.94 billion yuan in the corresponding period the previous year.
From July to September, the company saw a 37.7 per cent increase in sales of approximately 1.135 million new-energy vehicles compared to the same period last year. For the first time, sales volumes surpassed 1 million units in a single quarter.
source: bloomberg.com
