SAIC Q1 profit jumps by over half, exceeding estimates


SHANGHAI, April 27 (Reuters) - Top Chinese automaker SAIC Motor Corp on Wednesday reported a surprise 56 percent rise in net income in the first quarter, defying a cooldown in the world's largest auto market after two consecutive years of breakneck expansion. SAIC, which operates auto ventures in China with General Motors and Volkswagen , reported a net profit of 4.50 billion yuan for the January-March quarter, easily beating an average forecast of 3.24 billion yuan by three analysts ...

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