nikola: EV maker Nikola's higher deliveries help it outperform revenue forecasts

 nikola: EV maker Nikola's higher deliveries help it outperform revenue forecasts 

Nikola Corp exceeded market estimates for quarterly revenue as the electric-vehicle maker delivered more semi-trucks after a production ramp-up, sending its shares 6 percent higher in trading before the bell.

The company produced 50 Tre battery electric vehicles at its facility in Coolidge, Arizona, in the April-June quarter and delivered 48 units to dealers.

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Nikola said it was on track to reach its 2022 delivery target of between 300 and 500 Tre BEV semi trucks.

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According to IBES data from Refinitiv, revenue was USD18.1 million in the second quarter, compared with the USD16.5 million expected by analysts.

The company's net loss widened to USD173 million, from a loss of USD143.2 million a year earlier.

Electric-vehicle companies have been grappling with higher costs this year as the Russia-Ukraine war and rising inflation drive up prices of battery materials and other components.

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