: Li Auto tops earnings estimate as revenue surges

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 ($386 million) on revenue that more than tripled to 34.68 billion yuan ($4.75 billion). 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 ($5.27 billion) and 39.39 billion yuan ($5.4 billion), which tops the FactSet estimate of $4.91 billion. Li Auto shares LI rose 3% in premarket trade, and the stock has surged 93% this year.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.