NIO Reports Narrower Loss On Higher Vehicle Sales

Chinese electric vehicle maker NIO Inc. (NIO) on Thursday reported net loss of RMB1.825 billion or $287.9 million in the first quarter, lesser than RMB4.875 billion loss in the same quarter a year ago, helped by increased vehicle delivery.

Net loss per share was RMB1.12 or $0.18 compared with RMB3.14 last year.

Excluding one-time items, loss was RMB1.285 billion or $202.7 million in the first quarter.

Adjusted loss per ADS was RMB0.79 or $0.13.

Quarterly revenue increased to RMB9.911 billion or $1.563 billion from RMB7.982 billion in the comparable quarter last year.

On average, 6 analysts polled by Thomson Reuters expected the company to report loss of $0.13 per share on revenue of $1.49 billion for the quarter. Analysts' estimates typically exclude special items.

Deliveries of vehicles were registered at 25,768 in the first quarter, an increase of 28.5% from last year.

Looking forward to the second quarter, revenues are expected to be between RMB9.340 billion or $1.473 billion and RMB10.088 billion or $1.591 billion. The consensus estimate stands at $1.86 billion.

NIO shares are down more than 6% in pre-market. It closed at $20.8, up 3.72% on Wednesday.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Fifth Season is recalling a limited amount of its branded Crunchy Sesame Salad Kits due to undeclared milk and egg, known allergens, the U.S. Food and Drug Administration said. The recall involves Fifth Season branded Crunchy Sesame Salad Kit with UPC Code: 52070008147 and Best By Date of 16-AUG-2022 and 15-AUG-2022. Luxury electric car maker Tesla Inc. has produced more than 3 million vehicles, of which 1 million in Shanghai Gigafactory, according to its founder and Chief Executive Officer Elon Musk. In a tweet on Sunday, Musk said, "Congrats Giga Shanghai on making millionth car! Total Teslas made now over 3M." King's Hawaiian is recalling its Pretzel Slider Buns, Pretzel Hamburger Buns and Pretzel Bites products as they contain one ingredient already recalled by Lyons Magnus, the U.S. Food And Drug Administration said. The Pretzel recall was initiated out of an abundance of caution after one of its supplier Lyons Magnus recently called back various nutritional and beverage products.
Follow RTT