By George Glover
NIO stock was dropping on Friday after the electric vehicle maker missed Wall Street's revenue forecast and issued disappointing guidance.
The Chinese company's American depositary receipts tumbled 5.3% to $4.46 ahead of the opening bell. Futures tracking the S&P 500 were down 0.3%.
NIO reported fourth-quarter revenue of 19.7 billion Chinese yuan ($2.70 billion), as the number of EVs it delivered climbed 45% from a year ago to 72,689. Analysts were expecting revenue of $2.79 billion, according to FactSet consensus estimates.
Guidance also looked soft. NIO said it expects to deliver between 41,000 and 43,000 vehicles over the current quarter. It's predicting revenue of between $1.69 billion and $1.76 billion -- the midpoint of those figures is well below the $2.48 billion that analysts were forecasting.
This is breaking news. Check back for more analysis soon.
Write to George Glover at george.glover@dowjones.com
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(END) Dow Jones Newswires
March 21, 2025 06:04 ET (10:04 GMT)
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