NIO Q4 Net Loss Widens; Stock Slips In Pre-market

(RTTNews) - NIO Inc. (NIO), a Chinese multinational automobile manufacturer, on Friday announced that net loss attributable to shareholders widened from last year.

Shares of NIO are decreasing in the pre-market trading.

In the fourth quarter, net loss attributable to ordinary shareholders widened to RMB 7.13 billion, or $977.05 million from RMB 5.59 billion in the previous year.

Loss per share/ADS attributable to ordinary shareholders was RMB 3.45, $0.47 versus RMB 3.18 in the previous year's quarter.

On an adjusted basis, net loss was RMB 6.55 billion, while adjusted loss was RMB 4.95 billion in the prior year.

Adjusted loss per share/ADS attributable to ordinary shareholders was RMB 0.43 versus RMB 2.81 last year.

Four Analysts, on average, had expected the company to report a loss of $2.36 per share. Analysts' estimates typically exclude special items.

However, Loss from operations narrowed to RMB 6.03 billion, or $826.50 million from RMB 6.63 billion in the prior year.

Revenue increased in the fourth quarter to RMB 19.70 billion, or $2.70 billion from RMB17.10 billion last year.

The deliveries in the quarter were increased to 72,689 from 50,045 last year.

Looking ahead to the first quarter of 2025, the company expects deliveries of vehicles to be between 41,000 and 43,000 representing an increase of approximately 36.4% to 43.1% from the previous quarter of last year.

Revenue is anticipated to be between RMB 12.37 billion, or $1.70 billion and RMB 12.86 billion, or $1.76 billion representing an increase of approximately 24.8% and 29.8% from the quarter of last year.

In the pre-market trading, NIO is 6.79% lesser at $4.39 on the Nasdaq.