Electric car maker NIO Inc. (NYSE: NIO) reported a net loss for the fourth quarter of 2023, despite an increase in revenues. The China-based company also provided guidance for the first quarter of 2024.
Net loss attributable to ordinary shareholders was $756.0 million in the December quarter, which represents a loss of $0.45 per American Depository Shares. On an adjusted basis, Q4 loss was $676.3 million.
Meanwhile, revenues increased 7% year-over-year to $2.41 billion in the three months. The company delivered 50,045 vehicles in the fourth quarter, up 25% year-over-year.
“We will soon start deliveries of 2024 NIO products equipped with the highest computing power among production vehicles and constantly enhance users’ driving and digital experience. Meanwhile, we plan to release Navigate on Pilot Plus (NOP+) for urban roads to all NT2.0 users in the second quarter,” said Nio’s CEO William Bin Li.
Prior Performance
Listen to the conference calls as they happen. Don't miss a beat! With AlphaStreet Intelligence, you can listen to live calls and interviews as they happen, so you never have to worry about missing out on important information.
Most Popular
CL Earnings: Key quarterly highlights from Colgate-Palmolive’s Q2 2024 financial results
Colgate-Palmolive Company (NYSE: CL) reported its second quarter 2024 earnings results today. Net sales increased 4.9% year-over-year to $5 billion. Organic sales increased 9%. Net income attributable to Colgate-Palmolive Company was $731
Key takeaways from Visa’s Q3 2024 earnings report
Credit card behemoth Visa, Inc. (NYSE: V) this week reported mixed results for the June quarter, with earnings matching expectations and sales slightly missing the view. Both numbers grew in
Southwest Airlines (LUV): A look at the airline’s performance in Q2 2024
Shares of Southwest Airlines Co. (NYSE: LUV) were up over 6% on Thursday after the company beat earnings estimates for the second quarter of 2024. The stock has gained 4%