Nikola Corporation Q1 Loss Beats Estimates

(RTTNews) - Nikola Corporation (NKLA) reported Loss for first quarter that beat the Street estimates.

The company's earnings came in at -$147.22 million, or -$0.11 per share. This compares with -$145.25 million, or -$0.26 per share, in last year's first quarter.

Excluding items, Nikola Corporation reported adjusted earnings of -$116.90 million or -$0.09 per share for the period.

Analysts on average had expected the company to earn -$0.10 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 29.8% to $7.50 million from $10.68 million last year.

Nikola Corporation earnings at a glance (GAAP) :

-Earnings (Q1): -$147.22 Mln. vs. -$145.25 Mln. last year. -EPS (Q1): -$0.11 vs. -$0.26 last year. -Revenue (Q1): $7.50 Mln vs. $10.68 Mln last year.