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

Microsoft (MSFT) Q2 revenue up 20%, earnings beat estimates

Software giant Microsoft Corp. (NASDAQ: MSFT) on Tuesday reported higher revenues and earnings for the second quarter of 2022. The results also topped expectations. At $51.7 billion, second-quarter revenues were

NFLX Stock: What the slowdown in subscriber growth means for Netflix

When online platforms thrived on the unusually strong traffic growth during the shutdown, as home-bound people turned to video-streaming and gaming sites, there was speculation that the trend might reverse

FAST Stock: Fastenal’s long-term prospects intact. Should you invest now?

Production disruption and logistics issues continue to have a crippling effect on the industrial sector but the performance of companies, in general, has been mixed so far. Fastenal Company (NASDAQ:

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