Shares of Nikola Corp. jumped 3.0% in premarket trading Thursday after the battery electric vehicle (BEV) maker reported a narrower-than-expected third-quarter loss and revenue rose topped expectations. The net loss narrowed to $226.2 million, or 54 cents a share, from a loss of $267.6 million, or 68 cents a share, in the year-ago period. Excluding nonrecurring items, the adjusted per-share loss of 28 cents beat the FactSet loss consensus of 38 cents. Total revenue was $24.2 million, after having no revenue a year ago, and was above the FactSet consensus of $22.7 million. The company produced 75 Nikola Tre BEVs during the quarter and delivered 63 of those to dealers. The stock has plunged 55.9% over the past three months through Wednesday, EV leader Tesla Inc.'s stock has slumped 30.1% and the S&P 500 has declined 9.5%.
(END) Dow Jones Newswires
November 03, 2022 09:11 ET (13:11 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.