Nio loss widens while vehicle sales climb 46%

Nio
NIO,
+2.38%
on Tuesday said it lost 4.56 billion Chinese renminbi, wider than the 4.11 billion renminbi it lost in the year-earlier quarter, while revenue more than doubled to 19.07 billion renminbi as vehicle sales rose 46%. On an adjusted basis, the EV maker said it lost 2.28 renminbi per share, or 31 U.S. cents per share. Analysts polled by Visible Alpha expected a loss of 2.49 renminbi on revenue of 19.3 billion renminbi. The company’s vehicle margin was 11%, versus 16.4% in the year-earlier quarter. It’s expecting revenue to rise between 0.1% and 4% in the fourth quarter, on a deliveries increase between 17.3% and 22.3%. Nio shares rose 3% in premarket trade.