NIO Inc. was rising Tuesday even as the Chinese electric-vehicle maker’s revenue fell short of expectations in the second quarter.

The Tesla Motors rival reported revenue of 19 billion yuan ($2.67 billion), a 9% increase from the year-ago period, but that was below the 19.62 billion yuan expected by analysts surveyed by FactSet. NIO’s deliveries surged 26% from the second quarter of 2024 to 72,056 but its vehicle margin fell to 10.3% from 12.2% a year ago.

The company posted an adjusted net loss of 25 cents per American depositary share, narrower than the loss of 31 cents estimated by analysts.

NIO’s guidance of third-quarter revenue between $3.05 billion and $3.19 billion fell considerably short of the $3.39 billion expected by Wall Street.

NIO’s American depositary receipts rose 2% to $6.50 in premarket trading Tuesday. Heading into regular trading, the stock has risen 46% in 2025.