Nio Earnings Due. Its EV Momentum Collides With Worsening Economy.
Chinese EV manufacturer Nio reports Q2 earnings with its delivery outlook crucial amid China's economic slowdown, while Nio stock remains below key levels.
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Posted 8/28/2023, 8:59:00 PM
investors.com
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Chinese EV start-up NIO is set to report second-quarter numbers amid investor concerns about competition, demand, pricing, and the Chinese economy.
Nio is expected to release its Q2 results with an anticipated EPS of -$0.41 and revenue of $1.26 billion, while options traders are pricing in a 10.62% move in Nio stock following the earnings report.
Chinese electric vehicle maker Nio reports an increased loss of $835.1 million in Q2 2023 as deliveries decline due to a transition to a new vehicle platform and a slowdown in China's economy.
Shares of Nio Inc. dropped after the China-based electric-vehicle maker reported second-quarter results that missed expectations but provided a positive revenue outlook for the current quarter.
Chinese electric-vehicle makers NIO, Li Auto, and XPeng have achieved record-breaking delivery numbers, a positive development for both Tesla and BYD, as well as for investors in the EV sector.
Chinese EV maker NIO is down nearly 6% in pre-market trading after announcing a proposed offering of $1 billion in convertible senior notes to reduce debt and strengthen its balance sheet.