U.S. deposit income from Nio Inc. they fell more than 3% in the extended session on Monday after the China-based electric car maker reported mixed fourth-quarter results and said revenue for a 2020 “transformer” would exceed $ 2 billion.
Nio NIO,
it said it lost 1.390 billion RMB ($ 212.8 million) in the quarter, or 16 cents per ADR, compared to a loss of RMB 2.8 billion in the previous year. Excluding spot items, Nio lost $ 203.6 million, or 14 cents per share.
Related: The fall in Tesla shares will likely be related to the Bitcoin bet
Fourth-quarter revenue jumped 133% to $ 1.02 billion, the company said. Revenue for the full year of 2020 increased 108% to $ 2.49 billion, Nio said.
Analysts surveyed by FactSet expected a quarterly loss of 6 cents per ADR on sales of $ 1.025 billion.
Nio said it delivered 17,353 vehicles in the quarter, including 7,574 of its mid-size SUV, the ES6. This compares with the 8,224 vehicles in the fourth quarter of 2019.
For the whole year 2020, it delivered 43,728 vehicles, out of the 20,565 vehicles of 2019.
See also: Nio will offer $ 1.3 billion in convertible notes
Fourth-quarter deliveries were a record for the company and concluded “a transformative 2020,” founder and CEO William Li said in a statement. That momentum has continued until 2021, he said.
The company targeted the delivery of about 20,000 to 20,500 vehicles during the first quarter, an increase of between 15% and 18% over fourth-quarter deliveries. It targeted revenue between $ 1.13 billion and $ 1.16 billion for the quarter.
Shares of Nio closed the usual trading day by almost 9%. Over the past twelve months, equities have risen 1,100%, compared to 32% in the S&P 500 SPX index,