(Xpeng) Shares of XPeng fell more than 7% on Monday after second-quarter revenue guidance of RMB6.8 billion to RMB7.5 billion missed estimates of RMB8.14 billion.
Xpeng’s stock was also weighed by an expectation of 31,000 to 34,000 vehicle deliveries in the second quarter, which is below the prior quarter. The deliveries will be 78.2% to 99.4% higher than in the prior year.
Xpeng still reported higher than estimated first-quarter earnings. The adjusted net loss per share was RMB1.88, compared to an estimated RMB1.90 loss per share.
The electric carmaker’s net loss in the first quarter came at RMB$1.7 billion, wider by 116.2% year-over-year.
Xpeng reported total revenues of RMB7.455 billion in the first quarter, an increase of 152.6% from the prior year. The revenue was higher than estimates of RMB7.39 billion.
The EV maker said it delivered 34,561 vehicles in the first quarter, an increase of 159% from the prior year. The gross margin rose by 100 basis points to 12.2%.
XPEV: NYSE is down -6.01%.
