NIO swings to adjusted profit as revenue more than doubles in Q1

NIO Inc (NYSE:NIO) reported first quarter results which showed a return to adjusted profitability and sharply higher revenue, driven by stronger vehicle sales and improved margins. The Chinese electric vehicle maker posted adjusted earnings per share of RMB 0.02 (about US$0.003), compared with analyst expectations for a loss of RMB 0.34 per share.