NIO Inc. (NYSE: NIO) reported first quarter 2023 earnings results today.
Total revenues were $1.55 billion, up 7.7% from the same period a year ago.
Net loss attributable to ordinary shareholders was $699.5 million while adjusted net loss was $603.1 million.
Net loss per American Depositary Share (ADS) was $0.42. Adjusted net loss per ADS was $0.36.
Vehicle deliveries were 31,041 in Q1 2023.
For the second quarter of 2023, the company expects deliveries to be between 23,000 and 25,000 vehicles, representing a decrease of approx. 8.2% to 0.2% from the same period last year.
Total revenues are expected to come between $1.27-1.36 billion, representing a decrease of around 15.1% to 9% from the year-ago quarter.