What's Going On With NIO Shares Friday?
Portfolio Pulse from Nabaparna Bhattacharya
NIO Inc. (NYSE:NIO) shares are trading slightly higher after reporting fiscal Q1 2024 revenue of $1.37 billion, which missed analyst estimates and marked a significant decline year-over-year and quarter-over-quarter. The company also reported an adjusted loss per share of $0.33, slightly worse than analyst expectations. Additionally, NIO has entered into a charging network-sharing partnership with GAC Group, aiming to enhance charging services and interoperability.
June 07, 2024 | 2:05 pm
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NIO Inc. reported fiscal Q1 2024 revenue of $1.37 billion, missing analyst estimates and showing a significant decline. The company also reported an adjusted loss per share of $0.33. Additionally, NIO has entered into a charging network-sharing partnership with GAC Group.
The revenue miss and adjusted loss per share are negative indicators, but the new partnership with GAC Group could provide long-term benefits. The stock is trading slightly higher, indicating a neutral short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100