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XPeng Inc. XPEV shares,
fell 3.3% to a fifth consecutive loss and a four-month low in pre-market trading on Monday, after the China-based electric vehicle maker reported a larger-than-expected loss in the fourth quarter, although revenue exceeded expectations as shipments quadrupled. The net loss narrowed to 787.4 million RMB ($ 120.7 million), or 1.05 RMB per share, from 1.35 billion RMB in the same period a year ago. Excluding non-recurring items, the adjusted loss per share was 95 cents RMB, compared to the FactSet loss consensus of 92 cents RMB. Total revenue grew 345.5% to 2.85 billion RMB ($ 437.0 million), beating the FactSet consensus of 2.71 billion RMB, as shipments jumped 302.9% to 12,964 vehicles. For the first quarter, the company said it expects total revenue to increase 531% from last year to 2.6 billion RMB, and shipments to increase 450%. to approximately 12,500 vehicles. There is currently no FactSet consensus for Q1 revenue. The stock, which has fallen 21.0% in the past four days, closed Friday at the lowest price since November 4. It has fallen 42.4% in the past three months as shares of Chinese rival Nio Inc. NIO,
lost 18.2% and the S&P 500 SPX,
gained 3.8%.
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