XPeng shares jump after the Chinese EV automaker posts narrower-than-expected quarterly loss

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  • US 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.
  • The company expects to deliver between 33,500 and 34,000 vehicles in total this quarter, representing growth of more than 150% versus the first quarter of 2021.

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US 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.

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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.

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The company expects to deliver between 33,500 and 34,000 vehicles 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.

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Credit: www.cnbc.com /

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