Nio Inc (NIO)

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$NIO reported earnings this morning: Double Miss
By: Evan | August 29, 2023

• $NIO reported earnings this morning

EPS of -$0.45 missing expectations of -$0.35
Revenue of $1.21B missing expectations of $1.27B.

Nio's gross margin on vehicles for the second quarter was 6.2% in the second quarter, down from 16.7% a year ago but up from 5.1% in the first quarter of 2023

Nio's adjusted figures exclude share-based compensation expenses. On a GAAP basis, the company reported a net loss of $835.1 million, or 51 cents per share

"We expect a solid growth in vehicle deliveries in the second half of 2023," - Nio CEO

(CNBC)

Looking forward:

Nio now expects to deliver between 55,000 and 57,000 vehicles in the third quarter, up significantly from the 31,607 EVs it delivered in the third quarter of 2022. It expects its revenue for the period to fall between $2.61 billion and $2.69 billion, up from…

— Evan (@StockMKTNewz) August 29, 2023

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