American investment receipts fell Nio Inc. more than 3% in Monday’s extended session after the China-based electric car maker reported mixed results in the fourth quarter and said revenue for 2020 was “transformative” to $ 2 one billion.
Nio NIO,
it said it lost RMB1.39 billion ($ 212.8 million) in the quarter, or 16 cents per ADR, compared to a loss of RMB2.8 billion in the period a year ago. Without one-time items, Nio lost $ 203.6 million, or 14 cents in installments.
Related: Tesla’s stock fall was apparently related to a bitcoin bet
Fourth-quarter revenue jumped 133% to $ 1.02 billion, the company said. Revenue for the full year 2020 rose 108% to $ 2.49 billion, Nio said.
Analysts surveyed by FactSet expected a quarterly loss of 6 cents per ADR on sales of $ 1.025 billion.
Nio said it delivered 17,353 vehicles in the quarter, including 7,574 of their medium-sized SUV, the ES6. That compares with 8,224 vehicles in the fourth quarter of 2019.
For the full year 2020, it delivered 43,728 vehicles, up from 20,565 vehicles in 2019.
See also: Nio to offer $ 1.3 billion in convertible pounds
Fourth-quarter delivery was a record for the company and they decided to “transform 2020,” founder and CEO William Li said in a statement. That trend has continued into 2021, he said.
The company managed to deliver about 20,000 to 20,500 vehicles in the first quarter, which would be an increase of between 15% and 18% from fourth quarter delivery. It accounted for revenue between $ 1.13 billion and $ 1.16 billion for the quarter.
Shares of Nio ended the regular trading day up nearly 9%. For the past 12 months, the stock has gained 1,100%, compared to 32% for the S&P 500 SPX index,