Nikola Corporation Q2 Loss Decreases, Beats Estimates

(RTTNews) - Nikola Corporation (NKLA) revealed Loss for second quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled -$133.674 million, or -$2.86 per share. This compares with -$217.828 million, or -$9.22 per share, in last year's second quarter.

Excluding items, Nikola Corporation reported adjusted earnings of -$124.521 million or -$2.67 per share for the period.

Analysts on average had expected the company to earn -$2.82 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 103.9% to $31.319 million from $15.362 million last year.

Nikola Corporation earnings at a glance (GAAP) :

-Earnings (Q2): -$133.674 Mln. vs. -$217.828 Mln. last year. -EPS (Q2): -$2.86 vs. -$9.22 last year. -Revenue (Q2): $31.319 Mln vs. $15.362 Mln last year.