Chinese electric vehicle maker Nio Inc. (NYSE:NIO) shares rose Tuesday after the company reported strong fiscal fourth-quarter results, driven by higher vehicle deliveries, expanding margins and improving profitability.

Revenue And Earnings Beat Expectations

The company reported quarterly revenue of 34.65 billion yuan ($4.95 billion), up 75.9% year over year and 59.0% sequentially. The figure exceeded the analyst consensus estimate of $4.61 billion.

Excluding one-time items, adjusted earnings came in at 0.29 yuan (4 cents) per ADS. That result improved significantly from a loss of 3.17 yuan per ADS a year earlier and topped expectations for a 5-cent loss.

Vehicle deliveries reached 124,807 units in the quarter, rising 71.7% year over year and 43.3% from the prior quarter. As a result, vehicle revenue increased 80.9% year over year and 64.6% sequentially.

Competitive Position And Delivery Momentum

Nio, often referred to as the "Tesla of China," remains a major competitor to Tesla, Inc. (NASDAQ:TSLA).

For comparison, Tesla delivered a record 418,227 vehicles globally in the fourth quarter, although that figure declined 16% year over ...