PHOENIX (AP) _ Nikola Corp. (NKLA) on Friday reported a loss of $120.2 million in its first quarter.

The Phoenix-based company said it had a loss of 31 cents per share. Losses, adjusted for stock option expense and non-recurring costs, were 14 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 27 cents per share.

Nikola shares have decreased 34% since the beginning of the year. The stock has dropped 23% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NKLA at https://www.zacks.com/ap/NKLA

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