Nio (NIO), a Chinese manufacturer and seller of smart electric vehicles, posted a better-than-feared 1Q loss driven by robust vehicle sales. Additionally, total revenues for the quarter beat analysts’ expectations. Shares dipped 5.3% to close at $38.99 on April 29. Nio’s 1Q adjusted loss came in at $0.04 (RMB0.23) per share, versus analysts’ expectations of a $0.16 loss per share. The company reported a loss of RMB1.60 per share in the same quarter last year. Total revenues of $1.22 billion (RMB7,982.3 million) beat the Street’s estimates of $1.02 billion and advanced significantly from the year-ago period. Vehicle sales increased 490% year-over-year to $1.13 billion (RMB7,405.
https://www.tipranks.com/news/nio-reports-smaller-than-expected-quarterly-loss-vehicle-sales-jump