Geely Automobile Holdings Ltd. reported first-half income that missed analyst estimates as a spike in car shipments failed to offset a global chip shortage that’s still hampering production.
The Hangzhou, China-based carmaker reported net income of 2.4 billion yuan ($367 million) for the six months ended June 30, versus 2.3 billion yuan the same period a year ago, according to a filing Wednesday. Analysts were looking for 3.2 billion yuan. Revenue rose 22% to 45 billion yuan, lower than average analyst estimates of 48.9 billion yuan.
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August 18, 2021 at 04:20PM
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Geely Income Falls Short as Chips, Covid Threaten Outlook - Bloomberg
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