Xpeng Inc. (XPEV, Financial) saw its stock rise by more than 4% in pre-market trading, reaching $13.60. The company has announced its projections for the fourth quarter, anticipating revenue between 15.3 billion and 16.2 billion Chinese yuan and forecasting deliveries of 87,000 to 91,000 vehicles.
The company recently released its third-quarter financial report, revealing a revenue of 10.1 billion yuan, marking an 18% year-over-year increase and surpassing the estimated 9.91 billion yuan. The net loss narrowed significantly to 1.81 billion yuan from 3.89 billion yuan a year ago, reflecting a 53.5% improvement. In the second quarter of 2024, the net loss was 1.28 billion yuan.
Xpeng's adjusted loss per share was reported at 0.81 yuan, compared to a loss of 1.61 yuan per share in the same period last year. The company achieved a total delivery of 46,533 smart electric vehicles in the third quarter, a 16.3% increase year-over-year, exceeding their delivery goals. Impressively, the gross margin reached 15.3%, setting a new quarterly record with an 18 percentage-point increase from the same period last year.
