Nio stock surging on Q2 revenue, EV deliveries

Nio (NIO) shares are revving higher after the Chinese EV maker saw its second quarter revenue rise 98.9% year-over-year. While narrowing its expected losses per share, Nio posted revenue of $2.46 billion (converted from the Chinese yuan). Nio's electric vehicle deliveries soared to a record high, previously reporting declines in the month of August.

Pras Subramanian weighs in on Nio's latest earnings beat as its stock is still down nearly 48% year-to-date in 2024.

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This post was written by Luke Carberry Mogan.

Video Transcript

We got to talk about Neo because those shares are up 13% after that company's second quarter results.

Yeah, one of the top trending tickets on Yin Neo, look at that loss narrowed here.

That's good news here, revenue doubled to around $2.46 billion.

Vehicle deliveries also double in the quarter and margins are better.

So a nice good mix there of things that investors want here for this company and they operate in the higher end of the landscape in China and also in Europe.

I saw again in Sweden, I saw their showrooms.

There, cars are very nice at a premium luxury level but also Neo is introducing a more mass market car in China, a cheaper to kind of address that market.

So I think there's a little bit of bullishness there for Neo in that regard too.

And the stock has not done well this year.