XPeng Sinks 7% After Q3 Revenue Guide Misses by 15% as $6.3 Billion Robotics Round Fails to Lift Shares
Updated
Updated · Yahoo Finance · Aug 24
XPeng Sinks 7% After Q3 Revenue Guide Misses by 15% as $6.3 Billion Robotics Round Fails to Lift Shares
3 articles · Updated · Yahoo Finance · Aug 24
Summary
XPeng fell 7% to $11.40 after guiding Q3 revenue to RMB21.7 billion-RMB23.4 billion, well below Wall Street's RMB25.88 billion consensus, with deliveries seen at 115,000-121,000 units.
Q2 results set up that reaction: revenue rose 8% to RMB19.74 billion but missed estimates, while the non-GAAP loss widened to RMB1.29 per ADS and R&D spending jumped 32% to RMB2.91 billion.
Margins were mixed as gross margin improved to 20.7% from 17.3%, but vehicle margin slipped to 12.1% from 14.3% during a product-generation transition; cash stood at RMB40.48 billion at June 30.
NIO dropped 4% in sympathy and Tesla slipped 2%, underscoring how XPeng's weak outlook weighed on Chinese EV ADRs more broadly.
More than $900 million raised for XPeng's IRON robotics unit at a $6.3 billion valuation — backed by Alibaba and Tencent — offered little immediate support as investors focused on the core EV business.