.August 20, 2024 10:17 AM

XPeng (NYSE:XPEV) released third-quarter guidance below market expectations, but shares rose nearly 2% in pre-market trading. In Q2, the Chinese EV maker reported a loss per share of 0.65 yuan, beating analysts’ forecast of a 1.70 yuan loss. Revenue was 8.11 billion yuan, slightly below the consensus estimate of 8.19 billion yuan. XPeng delivered 30,207 vehicles, missing the expected 30,933 units, but gross margin exceeded forecasts at 14%. Operating loss of 1.61 billion yuan was narrower than the expected 1.95 billion yuan.

For Q3 2024, XPeng expects revenue between 9.1 to 9.8 billion yuan, below the average analyst estimate of 10.58 billion yuan. The company aims to deliver 41,000 to 45,000 vehicles, compared to the forecasted 44,727 units.