NIO Inc. (NYSE:NIO) shares are trading lower Tuesday, alongside shares of Chinese electric vehicle companies, in sympathy with Li Auto (NASDAQ:LI) after the company reported second-quarter financial results.
What To Know: Li Auto reported quarterly earnings of 18 cents per share which beat the analyst consensus estimate of 12 cents, a 1000% increase over losses of two cents per share from the same period last year. The company reported quarterly sales of $3.95 billion which beat the analyst consensus estimate of $3.81 billion, a 203.02% increase over sales of $1.30 billion the same period last year.
The company anticipates third-quarter revenue in a range between $4.46 billion and $4.59 billion, versus the $3.9 billion estimate. Vehicle deliveries are estimated to be between 100,000 and 103,000, up by between 277.0% and 288.3% year-over-year.
Related Link: Hims & Hers Health Reports Q2 Earnings, Beating Top And Bottom Lines, Raises Guidance
NIO Price Action: Shares of NIO are down 5.12% at $14.06 at the time of publication, according to Benzinga Pro.
Image by Paul Brennan from Pixabay
