BEIJING (dpa-AFX) - NIO Inc. (NIO) Tuesday reported net loss of RMB 6.891 billion or RMB 3.29 per ADS for the first quarter, higher than RMB 5.256 billion or RMB 2.57 per ADS loss in the same quarter a year ago, primarily due to higher expenses.
Excluding one-time items, adjusted loss increased to RMB 6.276 billion or RMB 3.01 per ADS from $4.897 billion or RMB 2.39 per ADS loss last year.
Loss from operations grew to RMB 6.418 billion from RMB 5.394 billion loss in the prior year.
Revenue for the quarter, however increased 21.5% to RMB 12.035 billion from RMB 9.909 billion last year.
Vehicle sales rose 18.6% year-on-year to RMB 9.939 billion.
For the second quarter, the company expects revenue to increase about 11.8% - 15% year-on-year to RMB 19.513 billion - RMB 20.068 billion.
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