US receipts of depositary Nio Inc. fell more than 3 percent in Monday’s extended session after China’s electric car maker reported mixed results in the fourth quarter and said revenues for a “transformational” 2020 exceeded $ 2 billion.
Nio NIO,
said it lost 1.3 billion RMB ($ 212.8 million) in the quarter, or 16 cents on ADR, compared with a loss of 2.8 billion RMB a year ago. With the exception of single items, Nio lost $ 203.6 million or 14 cents a share.
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Fourth-quarter revenue rose 133 percent to $ 1.02 billion, the company said. Revenues for the full year 2020 increased 108% to $ 2.49 billion, Nio said.
Analysts surveyed by FactSet expected a quarterly loss of 6 cents on ADR on sales of $ 1.025 billion.
Nio said it delivered 17,353 vehicles in that quarter, including 7,574 in its mid-size SUV, the ES6. This compares with 8,224 vehicles in the fourth quarter of 2019.
For the entire year 2020, it delivered 43,728 vehicles, from 20,565 vehicles in 2019.
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Fourth-quarter deliveries were a record for the company and ended “a transformational 2020,” founder and CEO William Li said in a statement. That momentum continued until 2021, he said.
The company led the delivery of about 20,000 to 20,500 vehicles in the first quarter, which would be an increase of between 15% and 18% over deliveries in the fourth quarter. It targeted revenue of $ 1.13 billion to $ 1.16 billion for the quarter.
Nio shares closed the usual trading day at almost 9%. In the last 12 months, the stock has gained 1,100%, compared to 32% for the S&P 500 SPX index,