Understanding the Market | XPENG-W fell over 3% after earnings as Goldman Sachs pointed out that its adjusted net profit for the third quarter was below expectations
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XPENG-W's stock price fell more than 3% after releasing its third-quarter 2024 results, down 3.08% to HKD 50.35 as of the time of writing. The automotive sales revenue for the quarter was 8.8 billion yuan, a year-on-year increase of 12.1%; the net loss was 1.81 billion yuan, narrowing by 53.5% year-on-year. Goldman Sachs pointed out that although the gross profit exceeded expectations, the adjusted net profit was 13% lower than expected, and EBIT was also 2% below market expectations
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