Nikola Corp exceeded market estimates for quarterly income on Thursday because the electric-vehicle maker delivered extra semi vehicles after a manufacturing ramp-up, sending its shares 6% larger in buying and selling earlier than the bell.
The corporate produced 50 Tre battery electrical automobiles at its facility in Coolidge, Arizona, within the April-June quarter and delivered 48 models to sellers.
Nikola mentioned it was on monitor to achieve its 2022 supply goal of between 300 and 500 Tre BEV semi vehicles.
Income was $18.1 million within the second quarter, in contrast with the $16.5 million anticipated by analysts, in line with IBES information from Refinitiv.
The corporate’s internet loss widened to $173 million, from a lack of $143.2 million a yr earlier.
Electrical-vehicle firms have been grappling with larger prices this yr because the Russia-Ukraine warfare and rising inflation drive up costs of battery supplies and different elements.
(Reporting by Akash Sriram in Bengaluru; Modifying by Aditya Soni)
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