Shares of Chinese electric vehicle maker NIO Limited (NIO) are down more than 5% Tuesday morning despite better-than-expected second-quarter results.
The company reported adjusted loss of $0.15 per ADS, that beat the average estimate of analysts polled by Thomson Reuters at $0.26 loss per share.
Revenues for the quarter increased 146.5% year-over-year to $526.4 million. Analysts had an expectation of $504 million.
For the third quarter, the company expects revenue to be between $572.9 million and $596.2 million. The consensus estimate is for$537.15 million.
NIO stock is currently trading at $13.38. It has traded in the range of $1.19- $16.44 in the last one year.
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