NIO - Nio Stock Dips After Q2 Results Trail Estimates EV Maker Eyes Q3 Rebound In Deliveries And Sales | Benzinga
Chinese electric vehicle startup Nio, Inc. (NYSE:NIO) reported Tuesday ahead of the market open second-quarter revenue and bottom line results that trailed the consensus forecast, reflecting a decline in vehicle sales and margin contraction amid a tough pricing environment. Looking ahead, the company is guided to strong growth in deliveries and revenue for the third quarter.
In premarket trading, the stock was down 2.36% at $31,041, according to Benzinga Pro data.
Nio’s Key Q2 Numbers: The Shanghai, China-based company reported second-quarter revenue of 8.77 billion yuan ($1.21 billion), down 14.8% year-over-year and 17.8% lower than in the previous quarter. Analysts, on average, estimated revenue of $1.26 billion for the quarter.
Vehicle deliveries fell to 23,520 units, down from 25,059 units in ...