Nio (NYSE:NIO) earnings for the company’s fiscal third quarter of 2019 have NIO stock heading higher on Monday. That’s thanks to its adjusted losses per share of -33 cents. This is better than Wall Street’s estimate of -34 cents per share. Revenue of $257 million is also well above analysts’ estimates of $230.08 million for the period.
Here’s what else is worth mentioning from the most recent Nio earnings report.
- Adjusted per-share losses are 77% better than the same time last year.
- Revenue for the quarter comes in 25% higher than the fiscal third quarter of 2018.
- Nio saw its losses from operations of -$337.1 million improve 14.30% from the same period of the year prior.
- The Nio earnings report also has net loss coming in at -$352.80 million.
- That’s a 10.3% improvement when compared to the fiscal third quarter of the previous year.
William Bin Li, founder, chairman and CEO of Nio, has this to say about the NIO stock earnings.
“NIO delivered a total of 4,799 ES8 and ES6 vehicles in the third quarter of 2019, representing a 35.1% increase from the second quarter. The electric vehicle sector experienced substantial softness in the second half of 2019 after the reduction of EV subsidies in China. Despite the challenges, NIO’s sales improved solidly since September.”
The Nio earnings report also includes its outlook for fiscal Q4 2019. This has it expecting revenue of roughly $393.2 million. For comparison, Wall Street is looking for revenue of $289.19 million during the quarter.
NIO stock was up 65% as of Monday afternoon. The stock is down 60.97% since the start of the year.
As of this writing, William White did not hold a position in any of the aforementioned securities.
