Why NIO Stock Is On The Move Today

Advertisement

NIO stock is on the move today following the release of the company’s earnings report for the third quarter of 2018.

Why NIO Stock Is On The Move Today
Source: Shutterstock

Net loss reported by Nio for the third quarter of the year came in at $409.20 million. This is a wider net loss than the $187.97 million that was reported by the company during the third quarter of 2017.

Nio also reported an operating loss of $406.08 million for the third quarter of 2018. The Chinese electric car company’s operating loss from the same period of the year prior was $186.12 million.

During the earnings report for the third quarter of the year, Nio reported revenue of $214.00 million. Revenue data from the third quarter of the previous year isn’t available. This is a far cry from analysts’ revenue estimate of $228.97 million for the third quarter of 2018.

Nio also provides an outlook for the fourth quarter of 2018 in its most recent earnings report. The company says that it is expecting revenue for the quarter to range from $418.50 million to $436.00 million. Wall Street is looking for the company to report revenue of $376.82 million for the fourth quarter of the year.

NIO stock has been on a wild ride today. The stock started out up Tuesday morning before dipping and raising yet again. As of noon Tuesday, NIO stock is up slightly.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2018/11/why-nio-stock-is-on-the-move-today/.

©2024 InvestorPlace Media, LLC