Shares of ZEEKR Intelligent Technology (ZK) plunged 5.10% in pre-market trading on Thursday after the electric vehicle maker reported a larger-than-expected loss for the fourth quarter of 2024 and missed revenue estimates.
For Q4 2024, Zeekr posted an adjusted loss of $0.49 per share, significantly wider than the $0.04 loss analysts were expecting. Revenue came in at $3.12 billion, up 39.2% year-over-year but below the consensus estimate of $3.18 billion. While the company saw strong growth in vehicle deliveries, which nearly doubled to 79,250 units, higher operating expenses weighed on profitability.
"While we are disappointed to miss expectations this quarter, we remain confident in our long-term strategy and growth prospects as we continue expanding our product lineup and enhancing our competitiveness," said Andy An, Zeekr Group's CEO. The company highlighted its strategic integration with Lynk & Co and accelerated global expansion plans as key initiatives to drive future growth.
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