Categories AlphaGraphs, Consumer, Earnings, Industrials

Niu Technologies (NIU) reports strong Q2 earnings results on higher e-scooter sales

Niu Technologies (NASDAQ: NIU) reported an increase in profit and revenue for the second quarter of 2020 as a strong recovery in China helped in registering 61% year-over-year e-scooter sales growth. NIU stock, which was trading up about 3% earlier in the pre-market trading hours, turned to red latter.

Niu Technologies (NIU) Q2 2020 Earnings Infograph

Net income rose both on a GAAP and non-GAAP basis. Revenue rose 22% to RMB644.9 million in the second quarter. While the e-scooter sales volume in China increased 58.5%, sales volume in international markets decreased 53% as a result of COVID-19.

Also read: Niu Technologies (NIU) sees favorable urban mobility trends as markets evolve

NIU expects revenues of the third quarter 2020 to be in the range of RMB850 million to RMB950 million, representing a year-over-year increase of 30% to 45%.

Most Popular

Netflix (NFLX): Four reasons why this leader will not be easy to overthrow

Netflix (NASDAQ: NFLX) has for long been the undisputed king of the streaming space. The streaming industry is seeing massive growth with several new players entering the field. It also

Fastenal (FAST) sees strong post-COVID prospects: Is the stock a buy?

The demand for services that involve minimal human interaction is on the rise as people continue to practice social distancing. Fastenal Co. (NASDAQ: FAST), a market-leading supplier of vending machines,

HEXO Corp. (HEXO) Earnings: 3Q21 Key Numbers

HEXO Corp. (NYSE: HEXO) reported its third-quarter 2021 earnings results today. Net revenue rose 2% year-over-year to CAD22.6 million. Net loss narrowed to CAD20.7 million from a loss of CAD19.5

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top