Chinese EV maker XPeng Inc (NYSE: XPEV) reported fiscal second-quarter sales growth of 60.2% year-on-year, to 8.11 billion Chinese Yuan ($1.12 billion), missing the analyst consensus estimate of 8.21 billion Chinese Yuan ($1.13 billion). Total revenues increased 23.9% sequentially.
Adjusted net loss per ADS of (1.29) Chinese Yuan missed the analyst consensus loss estimate of (1.26) Chinese Yuan. In USD terms, the adjusted earnings per ADS was a loss of 18 cents, which is in line with the consensus.
Also Read: China's Cash-for-Clunkers Program Could Drive EV Sales to 10 Million in 2024, Boosting NIO, XPeng, and Li Auto Stocks
The Tesla Inc (NASDAQ:TSLA) rival's quarterly vehicle deliveries increased 30.2% year-on-year ...
