BEIJING (dpa-AFX) - China Automotive Systems Inc (CAAS) released a profit for its second quarter that increased from last year and beat the Street estimates.
The company's earnings came in at $9.43 million, or $0.31 per share. This compares with $3.20 million, or $0.10 per share, in last year's second quarter.
Analysts on average had expected the company to earn -$0.05 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 5.4% to $127.16 million from $120.60 million last year.
China Automotive Systems Inc earnings at a glance (GAAP) :
-Earnings (Q2): $9.43 Mln. vs. $3.20 Mln. last year. -EPS (Q2): $0.31 vs. $0.10 last year. -Analyst Estimate: -$0.05 -Revenue (Q2): $127.16 Mln vs. $120.60 Mln last year.
-Guidance: Full year revenue guidance: $500 Mln
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