Nio stock jumps on robust revenue despite earnings miss

Yahoo Finance's Akiko Fujita discusses the rise in Nio stock following the EV maker's earnings report.

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AKIKO FUJITA: Time to look at one of our trending tickers today. A strong outlook helping with shares of Nio, despite the EV maker posting a wider-than-expected quarterly loss. You see that stock up nearly 11% right now. The company posted a near $578 million loss, though revenue was up 32% to $1.8 billion. Now, that number was boosted largely by strong vehicle sales, marking a 29% increase.

Investors are largely focused on the outlook this morning, with CEO William Li saying he expects substantial acceleration in revenue growth, helped by its new ET5 sedan. Nio now expects to deliver between 43,000 to 48,000 vehicles in the current quarter.