10:18 AM EDT, 08/09/2024 (MT Newswires) -- Nikola ( NKLA ) shares rose sharply in early trading Friday, gaining more than 17% after the electric truck maker posted a smaller-than-expected Q2 net loss and revenue that exceeded analyst estimates.

The company reported a Q2 non-GAAP net loss of $2.67 per share, compared with a $5.90 loss a year earlier. Analysts polled by Capital IQ expected a $2.73 loss.

Revenue for the quarter ended June 30 was $31.3 million, compared with $15.4 million a year earlier.

Analysts expected $26.2 million.

Price: 9.22, Change: +1.42, Percent Change: +18.21