NIO's Second-Quarter Loss Beat Estimates After Strong Sales Results

Chinese electric-vehicle maker NIO (NYSE: NIO) said that its second-quarter loss was less than Wall Street had expected, and that its sales in the third quarter are likely to beat expectations as well. 

Excluding one-time items, NIO lost $0.16 per American depositary share, beating the consensus analyst forecast as reported by Thomson Reuters, which predicted a loss of $0.26 per share. NIO's second-quarter revenue of $526.4 million was also above the consensus analyst estimate of $504 million. 

Both numbers were significant improvements over NIO's dismal year-ago results, further evidence that the company is on track after running dangerously low on cash earlier in 2020. 

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Source Fool.com