Xpeng Inc.’s ADR XPEV fell 2% in premarket trade Wednesday, after the Chinese electric vehicle company’s third-quarter loss widened from a year ago while revenue fell short of estimates. Xpeng posted a net loss of RMB3.89 billion ($0.53 billion), or RMR4.49 a share, for the quarter, wider than the loss of RMB2.38 billion, or RMB2.77, in the year-earlier period. The company’s adjusted per-share loss came to RMB3.23, narrower than the FactSet consensus of a loss of RMB3.40. Revenue rose to RMB8.53 billion from RMB6.82 billion, below the RMB8.68 billion FactSet consensus. The company delivered 40,008 vehicles in the quarter, up 72.4% from the second quarter. The company delivered another 20,002 vehicles in October to bring the year-to-date total to 101,445 vehicles. Xpeng is now expecting fourth-quarter deliveries of 59,500 to 63,500 vehicles, for a rise of 101.2% to 114.7% from a year ago. Revenue is expected to range from RMB12.7 billion to RMB13.6 billion, while FactSet is expecting RMB12.2 million. The stock has gained 70% in the year to date, while the S&P 500 SPX has gained 17%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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