Warren Buffett’s Favorite EV Maker BYD Is Down Despite Strong Results. Here’s Why
Shares of BYD Co. Ltd. (SHE:002594) closed over 7% lower in Shanghai’s Wednesday trading session, a day after the electric vehicle (EV) maker reported results. BYD reported first-half results that saw the EV company generate 150.6 billion yuan ($21.84 billion), which marks a 66% year-over-year (YoY) growth. The reported H1 revenue numbers are worse than what the analysts were expecting. The Bloomberg consensus stood at 166.03 billion yuan. Q2 2022 hedge fund letters, conferences and more Still, BYD reported a net income of 3.60 billion yuan ($521 million), much better than the 1.17 billion rep...