Nio (NIO) shares are revving higher after the Chinese EV maker saw its second quarter revenue rise 98.9% year-over-year. While narrowing its expected losses per share, Nio posted revenue of $2.46 billion (converted from the Chinese yuan). Nio's electric vehicle deliveries soared to a record high, previously reporting declines in the month of August.

Pras Subramanian weighs in on Nio's latest earnings beat as its stock is still down nearly 48% year-to-date in 2024.

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This post was written by Luke Carberry Mogan.