2 Key Things From Rivian's Earnings Call Investors Should Know
Last month, premium electric vehicle (EV) maker Rivian Automotive (NASDAQ: RIVN) turned in a third-quarter report that pleased investors, who drove shares up more than 17% on the day following the earnings release.
Revenue was $536 million, up from $1 million in the year-ago period and 47% higher than in the prior quarter. Adjusted loss was $1.44 billion, or $1.57 per share, compared with $7.69 per share in the year-ago period. The top line fell short of the analyst consensus estimate, which was $552 million, while the bottom line exceeded expectation, which was for an adjusted loss per share of $1.82.
Investors were likely at least satisfied with the quarter's results. But we can attribute the main catalyst for shares jumping after the release to management reaffirming its full-year 2022 production target of 25,000 vehicles.
Source Fool.com
