Li Auto, Inc. (LI) reported an earnings beat for its 1st quarter, ending 3/31/2023. Earnings per share came in at CNH0.67, versus the expected CNH0.36.
The reported revenue of $2.75 billion represents growth of 10.71% compared to the previous quarter, and growth of 82.31% compared to the same period last year.
For the 2nd quarter, analysts project earnings of CNH0.76 per share.
Often, earnings announcements affect a stock’s price. See a history of earnings-related price changes for LI stock.
What’s Next for Li Auto, Inc., Post-Earnings?
According to TipRanks, the average analyst consensus on LI stock is a Strong Buy. This consensus is based on 5 analyst ratings made in the past 3 months. Li Auto, Inc.’s average price target of $37.30 implies upside potential of 32.18% from current levels.
See our Earnings Calendar for a full list of this week’s earnings releases.
Bottom Line
An earnings beat can signify positive movement ahead for a stock’s price. Currently, LI price is $28.22, indicating a 5-day rise of 17.93%.
About Li Auto, Inc.
Li Auto Inc. is a Chinese electric vehicle manufacturer. The company engages in designing, developing, manufacturing, and selling premium smart electric SUVs.
Learn more about LI financials here