Shares of Chinese electric vehicle maker NIO Inc. (NIO) are rising more than 8% Friday morning after reporting improved sales in the first quarter, driven primarily by increased vehicle deliveries.
Total revenues were RMB10.677 billion or $1.555 billion in the first quarter, a 7.7% increase year-on-year.
NIO said vehicle deliveries were 31,041 in the first quarter, consisting of 10,430 premium smart electric SUVs and 20,611 premium smart electric sedans, an increase of 20.5% from comparable quarter last year.
The company, however, reported a loss of RMB4.804 billion or $699.5 million in the first quarter, wider than RMB1.825 billion in the year-ago quarter.
Loss per ADS was RMB2.91 or $0.42, compared with RMB1.12 last year. Excluding one-time items, loss per ADS was RMB2.51 or $0.36.
NIO is at $8.48 currently. It has traded in the range of $7.00 – $24.43 in the last 1 year.
Source: Read Full Article
-
Will Bitcoin Price Crash To $10,000? Bloomberg Expert Reveals When
-
Crypto Analyst Alex Krüger on Bitcoin Price: ‘30K-35K Looks Very Doable’
-
Lower Earnings Sends Fortrea Holdings Shares Down
-
Michael Saylor Calls Bitcoin The ‘The Apex Commodity,’ Predicts Long-Term Outperformance Over Cash, Stocks, S&P 500
-
There Is A "Good Chance" Ethereum Flips Bitcoin, ETH Co-Founder Asserts