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BYD Earnings Miss Estimates as China's EV Price War Takes Its Toll

Chinese electric vehicle giant BYD reported weaker-than-expected third-quarter earnings on Thursday, highlighting the growing challenges facing China's automakers even as overseas sales continue to surge. BYD's net profit rose 28% year-over-year to 10. 02 billion yuan ($1. 5 billion), missing analysts' expectations of approximately 11. 1 billion yuan. Revenue increased 13. 6% to 221. 5 billion yuan ($33. 3 billion), also falling short of market forecasts.

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