NIO stock is falling after an outlook that didn't live up to expectations.
Tuesday morning, NIO reported break-even adjusted profits from sales of $4.7 billion, up 69% year over year. Wall Street was looking for a 4-cent per share loss on sales of $4.8 billion, according to FactSet.
Results look fine. Still, shares were down 6.4% in overseas trading, while S&P 500 and Dow Jones Industrial Average futures were both off about 0.5%.
The outlook might be weighing on shares. For the third quarter, NIO expects sales of about $5 billion. Wall Street is projecting $5.3 billion in revenue.
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