Chinese electric vehicle maker NIO Inc (NYSE:NIO) stock gained on Thursday after the company reported strong fiscal first-quarter results, driven by higher vehicle deliveries, expanding margins, and improving profitability.

Revenue And Earnings Beat Expectations

The company reported quarterly revenue of 25.53 billion Chinese yuan ($3.701 billion), up 112.2% year over year (Y/Y). The revenue declined 26.3% sequentially. The figure exceeded the analyst consensus estimate of $3.550 billion.

Excluding one-time items, adjusted earnings came in at 0.02 yuan per ADS. That result improved significantly from a loss of 3.01 yuan per ADS a year earlier.

Vehicle deliveries reached 83,465 units in the quarter, rising 98.3% Y/Y. The quarterly deliveries declined 33.1% from the prior quarter.

Vehicle revenue increased 129.2% Y/Y, mainly due to higher delivery volume and a higher average selling price, driven by a favorable product mix. The quarterly revenue declined 27.9% sequentially, mainly attributable to a decrease in delivery volume.

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 358,023 vehicles globally in the first quarter.

NIO delivered 29,356 vehicles in April 2026. As of April 30, 2026, the ...