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Photo from Nio
Nio widens net loss by 10.8% YoY to $861.26m in 3Q23
Compared to 2Q23, the company’s net loss was cut by 24.8%.
SGX-listed Chinese automobile manufacturer Nio widened its net loss by 10.8% YoY to RMB 4.56b ($861.26m).
On a quarter-on-quarter comparison, however, the company was able to cut its losses by 24.8%.
Excluding share-based compensation expenses, Nio’s adjusted net loss (non-GAAP) also increased in 3Q23 by 13.0% to RMB3.95b ($745.97m) in 3Q23. QoQ, the adjusted net loss fell 27.4%.
On the flip side, the company saw an improvement in its total revenue, which rose 46.6% YoY and 117.4% QoQ to RM 19.1b ($3.6b).
$1 = RMB 5.29
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