Investing.com -- Li Auto’s second-quarter revenue topped analyst expectations, but the Chinese electric vehicle maker’s revenue guidance for the current quarter came in well below consensus.

The company posted second-quarter earnings per share of a loss of RMB1.49, narrowly missing the analyst estimate of a loss of RMB1.47. Revenue came in at RMB25.67 billion, down 15.1% year-over-year but up 11.7% from the first quarter, and ahead of the RMB25.07 billion consensus estimate.

The automaker’s shares slipped 1.3% in U.S. premarket trading by 05:25 ET.

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Total deliveries for the quarter fell 11.5% year-over-year to 98,330 vehicles. Vehicle sales revenue declined 16.7% year-over-year to RMB24.1 billion, though it rose 11.8% from the prior quarter.

“Amid intense market competition and a major model refresh cycle, Li Auto remained the best-selling domestic automotive brand in China’s RMB200,000-and-above NEV market in the first half of 2026," said Xiang Li, chairman and CEO of Li Auto.

Vehicle margin was 9.4%, down sharply from 19.4% a year earlier, though up from 6.1% in the first quarter. Gross margin came in at 11.0%, down from 20.1% a year earlier but up from 7.9% in the prior quarter. Operating margin was negative 9.0%, an improvement from negative 13.0% in the first quarter but a reversal from a positive 2.7% margin a year earlier.

For the third quarter, Li Auto guided to revenue of RMB26.6 billion to RMB28 billion, well below the RMB32.28 billion consensus estimate. The company expects deliveries of 95,000 to 100,000 vehicles, representing year-over-year growth of 1.9% to 7.3%.

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Li Auto tops quarterly revenue estimates but issues weak Q3 guidance; shares dip

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