Nio on Tuesday said its loss narrowed slightly in the fourth quarter as the company said sales may decrease in the current quarter.
The electric vehicle maker said its net loss was 5.37 billion renminbi, vs. 5.79 billion renminbi in the year-earlier period, while revenue rose 6.5% to 17.1 billion renminbi, or $2.41 billion.
The loss per U.S.-listed share was 45 cents, or a loss of 39 cents a share when adjusted for share-based compensation. Analysts polled by FactSet had expected a 33 cents per share loss on sales of $2.52 billion.
Nio shares
NIO,
rose in early premarket trade Tuesday. The stock has dropped 41% this year.
The SUV and sedan maker during the quarter saw deliveries jump 25% as it highlighted fourth-quarter vehicle margins of 11.9%. “Our continuous investments in technologies, battery swapping network and user community will bolster our competitive advantages as we navigate the future competition,” said Chairman and CEO William Bin Li.
Nio forecast deliveries to be roughly stable in the first quarter, weakening by 0.1%, and for revenue to range from 10.5 billion to 11.1 billion renminbi ($1.48 billion to $1.56 billion) in the first quarter, a range of a decline of 1.7% to a gain of 3.8%. Analysts at FactSet expected revenue of $2.21 billion.
This post was originally published on Market Watch
