NIO's Third-Quarter Loss Was Less Than Expected as Cost Improvements Juiced Margins
Chinese electric-vehicle maker NIO (NYSE: NIO) reported today that it lost less money than expected in the third quarter, as cost improvements helped boost profit margins in a quarter in which NIO sold more vehicles than ever before.
NIO's net loss for the quarter was $154.2 million, or $0.14 per American depositary share, on total revenue of $666.6 million. That was a significant improvement over its results in the third quarter of 2019, and good enough to beat estimates: Wall Street analysts polled by Thomson Reuters had expected a loss of $0.17 per share on revenue of $653.73 million.
NIO launched its newest model, the EC6, in September. Image source: NIO.
Source Fool.com
