NIO Q2 revenue reached 8.77 billion yuan, with record-high deliveries and revenue guidance for the third quarter | Earnings Report
NIO's Q2 revenue was RMB 8.77 billion, slightly below market expectations of RMB 9.15 billion. The Q3 delivery guidance is set at 55,000-57,000 vehicles, representing a year-on-year growth of 74.0%-80.3%. The revenue guidance for Q3 is expected to be between RMB 18.9 billion and RMB 19.52 billion, reflecting a year-on-year growth of 45.3%-50.1%, which is the highest in the company's history in terms of both delivery and revenue guidance.
On August 29th, NIO released its Q2 2023 Earnings Report. The company's Q2 revenue reached 8.77 billion yuan, slightly below market expectations of 9.15 billion yuan. R&D expenses amounted to 3.34 billion yuan, marking the third consecutive quarter with R&D spending exceeding 3 billion yuan. Cash reserves stood at 31.5 billion yuan. For Q3 2023, NIO expects to deliver between 55,000 and 57,000 vehicles, representing a year-on-year growth of 74.0% to 80.3%. Revenue guidance for the same period is projected to be between 18.9 billion yuan and 19.52 billion yuan, reflecting a year-on-year increase of 45.3% to 50.1%, which would be the highest in the company's history.
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