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
-
Markets Wait For The Fed's Forward Guidance
-
Bitcoin’s Fear and Greed Index Stays In “Greed Zone” For 13 Straight Days — Can BTC Sustain The Bull Run?
-
Scholastic Shares Fall 20% Following Wider Loss In Q3
-
Palo Alto Networks Shares Rise On Improved Q4 Results, Outlook
-
Markets Digest The Fed's Hawkish Pause, Wait For ECB