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
-
Analyst Predicts 90% Likelihood of SEC Approving Bitcoin Spot ETF by January 2024 or Earlier
-
Satoshi-Era Bitcoin Whale Moves $1.2 Million Worth Of BTC After 13 Years
-
Cryptos Muted As Markets Guess The Fed's Monetary Policy Outlook
-
Analyst Predicts Deeper Pullback for Bitcoin If Price Hits $47,000
-
Bitcoin ($BTC) Price to Rise to $30,000 in Second Half of 2023, VanEck Says