Li Auto tops earnings estimate as revenue surges

📆 11/9/2023 4:30 AM
📰 MarketWatch

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Steven Goldstein is based in London and responsible for MarketWatch's coverage of financial markets in Europe, with a particular focus on global macro and commodities. Previously, he was Washington bureau chief, directing MarketWatch's economic, political and regulatory coverage. Follow Steve on Twitter: @MKTWgoldstein.

Li Auto shares rose in early electronic trade as the China electric vehicle maker said it swung to a third-quarter profit of 2.81 billion yuan on revenue that more than tripled to 34.68 billion yuan .

Analysts polled by FactSet expected a profit of $317 million on sales of $4.59 billion. Li Auto expects fourth-quarter revenue between 38.46 billion yuan and 39.39 billion yuan , which tops the FactSet estimate of $4.91 billion. Li Auto shares LI, -1.35% rose 3% in premarket trade, and the stock has surged 93% this year.

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