What's Going On With Nio Stock?
Portfolio Pulse from Adam Eckert
NIO Inc's shares are trading lower due to continued selling pressure following weak Q2 earnings. The company reported a revenue of $1.21 billion, missing the consensus estimate of $1.35 billion, and a quarterly loss of 45 cents per ADS, which also missed estimates. Nio's vehicle deliveries in Q2 totaled 23,520, down 24% sequentially and 6% YoY. The company guided for Q3 revenue of $2.61 billion to $2.69 billion, higher than estimates of $2.44 billion, and expects Q3 deliveries to be between 55,000 and 57,000.
August 30, 2023 | 1:30 pm
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NIO Inc's weak Q2 earnings and lower vehicle deliveries have led to a decrease in its stock price. However, the company's guidance for higher Q3 revenue and deliveries may potentially improve its stock performance.
NIO Inc's stock price has decreased due to its weak Q2 earnings and lower vehicle deliveries. However, the company's guidance for higher Q3 revenue and deliveries may potentially improve its stock performance.
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