U.S. listed shares of XPeng jumped in premarket trading Monday after the Chinese electric-vehicle maker reported a fourth-quarter loss that was narrower than Wall Street had expected.
Xpeng said that it lost $202 million in the quarter, or $0.22 on an adjusted per-share basis, on revenue of $1.34 billion. That was significantly better than expected: Seven Wall Street analysts polled by FactSet had expected an adjusted loss of $0.33 per share, on average.
XPeng delivered a total of 19,147 vehicles in January and February, a period that included several days of factory downtime during China’s Lunar New Year holiday.
The company expects to deliver between 33,500 and 34,000 vehicle in total this quarter, representing growth of more than 150% versus the first quarter of 2021.
This is a developing story. Please check back for updates.
