Xpeng’s stock slides 6.4% premarket after Chinese EV makers’ earnings fall short of estimates

Xpeng Inc.’s stock XPEV, +0.45% slid 6.4% in premarket trade Friday, after the Chinese electric vehicle maker posted weaker-than-expected second-quarter earnings. Xpeng had a net loss of RMB2.80 billion , or RMB3.25 per ADS, for the quarter, wider than the loss of RMB2.70 billion, or RMB1.63 per ADS, posted in the year-earlier period. Adjusted per-ADS loss was RMB3.10, while FactSet was expecting a loss of RMB2.41 per ADS. Revenue came to RMB5.

06 billion, down 31.9% from a year ago, and below the RMB5.54 billion FactSet consensus. Total deliveries came to 23,205 for the quarter, down 27.3% from a year ago. The company now expects third-quarter deliveries of 39,000 to 41,000 vehicles, for an increase of 31.9% to 38.7%. It expects revenue to range from RMB8.5 billion to RMB9.0 billion. The U.S.-listed stock has gained 57% in the year to date, while the S&P 500 SPX, -0.77% has gained 13.8%.

Indonesia Berita Terbaru, Indonesia Berita utama

Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.

These are the fastest growing companies in Greater Cleveland, according to the Inc. 5000Cleveland Kitchen, Fund That Flip and The Connect Group are the fastest growing companies in Greater Cleveland.
Sumber: clevelanddotcom - 🏆 301. / 63 Baca lebih lajut »