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Chinese Electric Automaker NIO Jumps 14% On Quarterly Results, Strong Delivery Outlook

Shares of NIO Inc. (NIO) are gaining over 14% on Thursday morning after the Chinese electric automaker reported results for the third quarter, with quarterly loss widening from last year, as costs increased. However, the deliveries for the quarter increase nearly 30% and are expected to almost double in the fourth quarter.

NIO is currently trading at $10.58, up $1.33 or 14.38%, on the NYSE. The stock opened its trading at $10.30 after closing Wednesday's trading at $9.25. The stock has traded between $8.38 and $43.55 in the past 52-week period.

Looking forward to the fourth quarter, the company expects deliveries of vehicles to be between 43,000 and 48,000 vehicles, representing an increase of approximately 71.8% to 91.7% from the same quarter of 2021. Revenues are expected to be between RMB17,368 million and RMB19,225 million, or $2,442 million and US$2,703 million, which represents an increase of approximately 75.4% to 94.2% from the same quarter of 2021.

Third-quarter net loss was RMB 4,142.3 million or RMB2.53 per ADS, compared to net loss of RMB835.3 million or RMB1.82 per ADS. Revenues were RMB13,002.1 million in the third quarter, representing an increase of 32.6% from the third quarter last year.

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