Bilibili Stock Sinks More than 10% over Q1 Earnings Miss

quarter was smaller than expected with revenue topping analyst forecasts.

In the earnings call, NIO’s chairman and CEO William Bin Li blamed the gross margin pressure for the cost surge in materials including batteries and chips. Li said NIO witnessed significant battery cost increase in the second quarter, which peaked in April. NIO did take actions to mitigate the pressure by price hikes but Li forecasted the the gross margin of his company not to recover until the third quarter.

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