Nikola: Q1 Earnings Snapshot
By AP News
Published - May 09, 2023, 08:15 AM ET
Last Updated - Jun 21, 2023, 09:38 PM EDT
PHOENIX (AP) — PHOENIX (AP) — Nikola Corp. (NKLA) on Tuesday reported a loss of $169.1 million in its first quarter.
On a per-share basis, the Phoenix-based company said it had a loss of 31 cents. Losses, adjusted for stock option expense and pretax expenses, came to 26 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 28 cents per share.
The pioneer in zero-emission trucks posted revenue of $11.1 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $16.2 million.
