IEMG - EV Stock NIO Drops After Q1 Print What's Going On? | Benzinga
Chinese electric vehicle startup NIO, Inc (NYSE: NIO) reported fiscal first-quarter 2024 revenue of 9.91 billion yuan ($1.37 billion), down by 7.2% year-over-year and down by 42.1% from the previous quarter. Analysts, on average, estimated revenue of $1.48 billion for the quarter.
Excluding share-based compensation expenses, the company reported an adjusted loss per share/ADS of (2.39) yuan or ($0.33) compared to (2.51) yuan in the year-ago quarter and (2.81) yuan in the fourth quarter of 2023. Analysts had called for a loss of $(0.31) per share. The stock price declined after the print.
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