NIO Reports Narrower Loss On Higher Vehicle Sales

(RTTNews) - Chinese electric vehicle maker NIO Inc. (NIO) on Thursday reported net loss of RMB1.825 billion or $287.9 million in the first quarter, lesser than RMB4.875 billion loss in the same quarter a year ago, helped by increased vehicle delivery.

Net loss per share was RMB1.12 or $0.18 compared with RMB3.14 last year.

Excluding one-time items, loss was RMB1.285 billion or $202.7 million in the first quarter.

Adjusted loss per ADS was RMB0.79 or $0.13.

Quarterly revenue increased to RMB9.911 billion or $1.563 billion from RMB7.982 billion in the comparable quarter last year.

On average, 6 analysts polled by Thomson Reuters expected the company to report loss of $0.13 per share on revenue of $1.49 billion for the quarter. Analysts' estimates typically exclude special items.

Deliveries of vehicles were registered at 25,768 in the first quarter, an increase of 28.5% from last year.

Looking forward to the second quarter, revenues are expected to be between RMB9.340 billion or $1.473 billion and RMB10.088 billion or $1.591 billion. The consensus estimate stands at $1.86 billion.

NIO shares are down more than 6% in pre-market. It closed at $20.8, up 3.72% on Wednesday.