{"id":3955,"date":"2023-10-21T09:37:20","date_gmt":"2023-10-21T09:37:20","guid":{"rendered":"https:\/\/borrowaccelerated.com\/investment\/catls-third-quarter-profit-rose-11-on-higher-sales\/"},"modified":"2023-10-21T09:37:20","modified_gmt":"2023-10-21T09:37:20","slug":"catls-third-quarter-profit-rose-11-on-higher-sales","status":"publish","type":"post","link":"https:\/\/borrowaccelerated.com\/?p=3955","title":{"rendered":"CATL&#8217;s Third-Quarter Profit Rose 11% on Higher Sales"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"MW-BT-CO-20231019-711418\" role=\"document\">\n<p>By Ben Otto and Sherry Qin<\/p>\n<pre><\/pre>\n<p>Chinese battery maker Contemporary Amperex Technology Co.&#8217;s third-quarter profit rose 11% on the back of higher sales, but came up short of analyst expectations.<\/p>\n<p>The world&#8217;s largest maker of electric-vehicle batteries posted quarterly profit of 10.43 billion yuan ($1.43 billion), up from CNY9.42 billion in the same period a year ago, it said late Thursday.<\/p>\n<div class=\"paywall\">\n<p>The bottom line missed analyst expectations for net profit of CNY11.04 billion, according to a FactSet-compiled estimate, and slipped 4.3% from the second quarter.<\/p>\n<p>CATL, a Tesla battery supplier, said revenue rose 8.3% to CNY105.43 billion. That was below a FactSet estimate of CNY106.89 billion.<\/p>\n<p>Despite the profit rise, the Ningde, China-based company saw declining profit growth. CATL registered a more than sixfold increase in profit for the first quarter, and a 63% profit rise in the second quarter.<\/p>\n<pre><\/pre>\n<p>Write to Ben Otto at ben.otto@wsj.com<\/p>\n<pre><\/pre>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/catl-s-third-quarter-profit-rose-11-on-higher-sales-abf1fd5a?mod=investing\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Ben Otto and Sherry Qin Chinese battery maker Contemporary Amperex Technology Co.&#8217;s third-quarter profit rose 11% on the back of higher&#8230;<\/p>\n","protected":false},"author":1,"featured_media":1200,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24],"tags":[],"class_list":{"0":"post-3955","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investment"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>CATL&#039;s Third-Quarter Profit Rose 11% on Higher Sales | Borrow Accelerated<\/title>\n<meta name=\"description\" content=\"By Ben Otto and Sherry Qin Chinese battery maker Contemporary Amperex Technology Co.&#039;s third-quarter profit rose 11% on the back of higher sales, but came\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/borrowaccelerated.com\/?p=3955\" \/>\n<meta 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