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published in Blogs
Aug 12, 2022
Rivian Automotive (RIVN, $38.95) Q2 revenue beats expectations

Rivian Automotive (RIVN, $38.95) Q2 revenue beats expectations

Electric vehicle maker Rivian Automotive reported second-quarter revenue that exceeded Wall Street expectations.

The electric vehicle maker’s adjusted loss was -$1.62 per share, compared to  the -$1.63 per share loss anticipated by analysts.

Revenue of $364 million came in higher than expectations of $337.5 million.

Rivian reaffirmed its expectations to make about 25,000 vehicles in 2022, in line with the reduced guidance it first provided in March. Its outlook on full-year adjusted loss before income, taxes, depreciation and amortization is $5.4 billion, wider than the $4.75 billion loss forecast it provided in May.

For the full year, Rivian is expecting $2 billion in capital expenditures, vs. $2.6 billion in its May outlook.

 

 

 

 

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