Investing.com -- NIO shares rose more than 5% in U.S. premarket trading Thursday after the Chinese electric vehicle maker reported better-than-expected earnings for the first quarter, and provided second-quarter revenue outlook that also trumped estimates.

Revenue of RMB25.53 billion in the three months through March rose 112.2% year-on-year, broadly in line with the consensus estimate of RMB25.57 billion. Adjusted earnings per share of RMB0.02 beat analyst expectations of a RMB0.34 loss.

Gross margin expanded to 19.0% from 7.6% a year earlier and 17.5% in the fourth quarter of 2025, reflecting improved cost efficiency and a richer product mix.

“In the first quarter of 2026, the Company delivered 83,465 smart electric vehicles, representing a year-over-year increase of 98.3%. Starting from the second quarter, the Company has entered an intensive new product launch and delivery cycle," said William Bin Li, founder and CEO of NIO.

Vehicle deliveries totalled 83,465 units, up 98.3% year-on-year, though down 33.1% from the prior quarter. The figure spanned all three of NIO’s brands, with 58,543 vehicles from the flagship NIO brand, 13,339 from the more affordable ONVO brand and 11,583 from the newly launched Firefly brand.

For the second quarter, NIO guided for revenue of RMB32.78-34.44 billion, ahead of the RMB31.83 billion consensus, and vehicle deliveries of 110,000-115,000 units, implying year-on-year growth of roughly 53-60%.