China-based electric car maker NIO Inc. (NYSE: NIO) on Friday reported a net loss for the fourth quarter of 2024. Revenues increased by double-digits during the three months.
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Total revenues increased 15% year-over-year to $2.70 billion in the final three months of fiscal 2024. Vehicle sales, which account for nearly 90% of total revenues, increased 13%. Net loss attributable to shareholders was $974.3 million or $0.47 per ADC in the December quarter. Adjusted net loss per ADS was $0.43.
For the first quarter of 2025, the company expects total revenues to be between $1.69 billion and $1.76 billion. It forecasts total vehicle deliveries in the range of 41,000 to $43,000 for Q1.
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