Li Auto Stock Drops After Q2 Earnings Miss Estimates
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Li Auto shares tumbled following a disappointing second-quarter earnings report that fell short of analyst expectations. The Chinese EV Maker posted adjusted earnings of 19 cents per share, well below the projected 23 cents and marking a 47.2% year-over-year decline.
Revenue came in at $4.2 billion, missing estimates of $4.46 billion despite a 2.3% increase in vehicle deliveries. The stock dropped 4.03% in pre-market trading, extending an 8.32% decline from the previous session.
Third-quarter guidance suggests further challenges ahead. Li Auto forecasts revenue between $3.5 billion and $3.7 billion, representing a potential 42% year-over-year decrease and significantly below Wall Street's $6.07 billion expectation.
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