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
Key highlights from Bank of America’s (BAC) Q4 2024 earnings results
Bank of America Corporation (NYSE: BAC) reported its fourth quarter 2024 earnings results today. Revenue, net of interest expense, was $25.3 billion, up 15% year-over-year. Net income was $6.7 billion,
US Bancorp (USB) Q4 profit rises on higher revenues, beats estimates
U.S. Bancorp (NYSE: USB) Thursday reported an increase in revenue and profit for the fourth quarter of 2024. Earnings also came in above analysts' forecasts. Total net revenue increased 3.7%
UnitedHealth Group (UNH) Q4 2024 Earnings: Key financials and quarterly highlights
UnitedHealth Group (NYSE: UNH) reported its fourth quarter 2024 earnings results today. Total revenues were $100.8 billion compared to $94.4 billion reported in the same period a year ago. Net