Nikola Corporation Q1 Loss Inline With Estimates

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

The company's bottom line came in at -$169.09 million, or -$0.31 per share. This compares with -$152.94 million, or -$0.37 per share, in last year's first quarter.

Excluding items, Nikola Corporation reported adjusted earnings of -$143.63 million or -$0.26 per share for the period.

Analysts on average had expected the company to earn -$0.26 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 488.4% to $11.12 million from $1.89 million last year.

Nikola Corporation earnings at a glance (GAAP) :

-Earnings (Q1): -$169.09 Mln. vs. -$152.94 Mln. last year. -EPS (Q1): -$0.31 vs. -$0.37 last year. -Analyst Estimates: -$0.26 -Revenue (Q1): $11.12 Mln vs. $1.89 Mln last year.