Does Bubble retry a call to an external API if the call fails or errors out?

Using the API connector, does Bubble retry a call to an external service if it fails, errors out, or times out? If so, how many times? How is this failure handled?

Any clarity on this is helpful!

Sadly, no.

But you can handle them yourself, however you want (within the limits of Bubble, I suppose). See:

https://manual.bubble.io/core-resources/api/the-api-connector/adding-calls#include-errors-in-response-and-allow-workflow-actions-to-continue