BYD Second Quarter 2024 Earnings: Revenues Disappoint

Simply Wall St · 08/31 01:00

BYD (HKG:1211) Second Quarter 2024 Results

Key Financial Results

  • Revenue: CN¥176.2b (up 26% from 2Q 2023).
  • Net income: CN¥9.04b (up 33% from 2Q 2023).
  • Profit margin: 5.1% (up from 4.9% in 2Q 2023). The increase in margin was driven by higher revenue.
  • EPS: CN¥3.12 (up from CN¥2.35 in 2Q 2023).
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SEHK:1211 Earnings and Revenue Growth August 31st 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

BYD Revenues Disappoint

Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) was mostly in line with analyst estimates.

Looking ahead, revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Auto industry in Hong Kong.

Performance of the Hong Kong Auto industry.

The company's shares are up 6.6% from a week ago.

Risk Analysis

Before you take the next step you should know about the 1 warning sign for BYD that we have uncovered.