IRVINE, Calif. (AP) — IRVINE, Calif. (AP) — Rivian Automotive, Inc. (RIVN) on Tuesday reported a loss of $545 million in its first quarter.
On a per-share basis, the Irvine, California-based company said it had a loss of 48 cents. Losses, adjusted for one-time gains and costs, were 41 cents per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 80 cents per share.
The a manufacturer of motor vehicles and passenger cars posted revenue of $1.24 billion in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $1.02 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RIVN at https://www.zacks.com/ap/RIVN
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