IRVINE, Calif. (AP) — IRVINE, Calif. (AP) — Rivian Automotive, Inc. (RIVN) on Tuesday reported a loss of $1.2 billion in its second quarter.
On a per-share basis, the Irvine, California-based company said it had a loss of $1.27. Losses, adjusted for non-recurring costs, were $1.08 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of $1.41 per share.
The a manufacturer of motor vehicles and passenger cars posted revenue of $1.12 billion in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $978.9 million.
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