XPeng Inc. (NYSE:XPEV) stock fell Monday after the Chinese electric vehicle maker reported a wider-than-expected second-quarter loss and issued a third-quarter revenue outlook below Wall Street estimates.
Revenue Rises, Deliveries Remain Flat
XPeng reported second-quarter revenue of 19.74 billion Chinese yuan ($2.91 billion), up 8% year over year and 51.5% from the previous quarter. The figure missed the analyst consensus estimate of $2.95 billion.
The Tesla Inc. (NASDAQ:TSLA) rival delivered 103,295 vehicles during the quarter, up 0.1% from a year earlier.
As of June 30, XPeng operated 740 sales stores across 257 cities. Its self-operated charging network included 3,780 stations, including 2,720 ultra-fast charging stations.
