BYD Q2 Net Profit Up 30% YoY, First Rise in Five Quarters

BYD, the world's largest electric vehicle maker, saw its second-quarter net profit rise 30% year-on-year to 8.2 billion yuan (about $1.2 billion), marking the first increase in five quarters. The figure, derived from first-half results released on Friday, slightly exceeded the average analyst estimate compiled by Bloomberg.

Revenue unexpectedly fell about 3% to 194.6 billion yuan during the same period. Profit growth was driven by a surge in exports and demand for some higher-priced models, helping offset a sluggish Chinese market.

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