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.
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
United Parcel Service (UPS) seems on track to regain lost strength
Cargo giant United Parcel Service, Inc. (NYSE: UPS) ended fiscal 2023 on a weak note, reporting lower revenues and profit for the fourth quarter. The company experienced a slowdown post-pandemic
IPO Alert: What to look for when Boundless Bio goes public
Boundless Bio is preparing to debut on the Nasdaq stock market this week, and become the latest addition to the list of biotech firms that have launched IPOs this year.
Nike (NKE) bets on innovation and partnerships to return to high growth
Sneaker giant Nike, Inc. (NYSE: NKE) has been going through a rough patch for some time, with sales coming under pressure from weak demand and rising competition. Post-pandemic, the company