(Reuters) -Nikola missed Wall Street expectations for first-quarter revenue on Tuesday, as the electric truck maker delivered fewer hydrogen fuel cell trucks amid an uncertain macroeconomic outlook and reduced spending by customers.
The company reported revenue of $7.5 million, missing expectations of $15.8 million, according to LSEG data. Its shares fell 5.8% before the bell.
It delivered 75 of its hydrogen fuel cell trucks in the first two quarters of production and completed the delivery of its reworked battery truck at the end of the first quarter.
The company, however, delayed its delivery timeline for its reworked battery trucks to 2024 end from its earlier plan to complete it by the end of the second quarter or early third quarter.
Nikola is finding it tough to sell its hydrogen big rigs as consumers and businesses curb spending on relatively pricer electric vehicles amid high…
