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BYD Co. Ltd. profit misses consensus by 17.5% in Q2

BYD Co. Ltd. said its normalized net income for the second quarter came to 32 fen per share, compared with the S&P Capital IQ consensus estimate of 39 fen per share.

EPS rose 180.1% year over year from 11 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 816.3 million yuan, a gain of 184.9% from 286.5 million yuan in the prior-year period.

The normalized profit margin climbed to 3.8% from 1.8% in the year-earlier period.

Total revenue grew 51.3% on an annual basis to 24.66 billion yuan from 16.30 billion yuan, and total operating expenses climbed 44.8% year over year to 22.73 billion yuan from 15.69 billion yuan.

Reported net income increased 307.6% from the prior-year period to 1.41 billion yuan, or 56 fen per share, from 345.7 million yuan, or 14 fen per share.

As of Aug. 26, US$1 was equivalent to 6.67 yuan.