NIO Q2 Earnings and Revenues Surpass Estimates, Increase Y/Y

NIO Inc. (NIO) incurred a loss per American Depositary Share of 34 cents in the second quarter of 2024, narrower than the Zacks Consensus Estimate of a loss of 46 cents. The company had reported a loss of 51 cents in the year-ago quarter.This China-based electric vehicle maker posted revenues of $2.40 billion, which beat the Zacks Consensus Estimate of $2.35 billion and rose 98.3% year over year due to higher delivery volumes.Key DetailsNIO delivered 57,373 vehicles in the second quarter, up 143.9% year ove ...