The shares of Guangzhou Xiaopeng Motors Technology Co Ltd (XPeng) listed in the United States tumbled almost 8% in the premarket on Friday following the release of the quarterly earnings report.
In the second quarter of fiscal 2023, the company's total revenues came in at 5.06 billion yuan or $700 million, nosediving 31.9% year over year. Basic and diluted net loss per American depositary share (ADS) in the reported period were both at 3.25 yuan or $0.45, up from 3.16 yuan or $0.43 registered in the same timeframe in 2022. Net loss landed at 2.80 billion yuan or $390 million.
The carmaker's US-listed stock plunged 7.99% at 6:08 am ET going for $14.42 apiece.
