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.