XPeng Losses Narrow as Revenue Jumps 60%
Xpeng lost less money than Wall Street expected in the second quarter. It reported Tue that revenue soared 60% to 8.11 billion Chinese yuan (USD1.14 billion) from the second quarter, roughly in line with consensus estimates. A loss of 1.36 yuan (US 19 cents) per U.S. share were narrower than the loss of US 24 cents a share analysts were expecting, according to FactSet.
The electric-vehicle maker's quarterly gross margins climbed to 14%, which Co-President Dr. Hongdi Brian Gu attributed to "technical improvement and revenues from technical collaboration in our strategic partnership with Volkswagen." The German auto giant took a stake in XPeng last year and the two companies extended their partnership last month.
Despite the big jump in revenue, XPeng issued weaker-than-expected guidance for the current quarter. It expects to deliver between 41,000 and 45,000 vehicles to bring in 9.1 billion to 9.8 billion yuan, lower than forecasts of 10.3 billion yuan.
XPeng's American depositary receipts climbed 2.15% to USD7.355 in premarket trading on Tue. As of Mon's close they had declined 51% for the year.
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JTTC19 : Good news. We should see the price go down to 7 and below today.
MonkeyGee : and the the stock still drops
JTTC19 MonkeyGee : Not unexpected. Low quality stock.
bullrider_21 OP MonkeyGee : XPeng's revenue rose to 8.11 billion yuan (USD1.14 billion), while analysts had expected revenue of 8.17 billion yuan, according to LSEG data.
It expects third-quarter revenue between 9.1 billion yuan and 9.8 billion yuan, compared with analysts' estimates of 10.4 billion yuan.
MonkeyGee bullrider_21 OP : oh, I think the expectation is ridiculous. Don't punish xpev for that. maybe they should go invest in MULN or FFIF because they are real companies.
bullrider_21 OP MonkeyGee : Just a small miss. Certanly doesn't deserve a 6% fall.