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Nio Earnings: Nio Stock Pops after Record Sales Deliver First Quarterly Profit
Shares of Nio Inc. NIO +3.35% ▲ jumped over 7% in pre-market trading on Tuesday after the EV maker reported its first-ever quarterly net profit, driven by record sales and improving margins. The company posted a net profit of CN¥122.4 million ($17.7 million) for Q4, a sharp turnaround from a net loss of CN¥7.13 billion a year earlier.
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For context, NIO designs and sells premium smart EVs, focusing on battery-swap technology and advanced autonomous driving features.
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