3 Key Things From Rivian's Earnings Call Investors Should Know
Last week, premium electric vehicle (EV) maker Rivian Automotive (NASDAQ: RIVN) released its second-quarter report, which featured better-than-expected revenue and earnings, along with a raise of 2023 annual production guidance to 52,000 total vehicles, from 50,000.
Revenue was $1.12 billion, up 208% from the year-ago period and up 70% from the prior quarter. Growth was primarily driven by the 12,640 vehicles delivered in the quarter, up 59% from the first quarter. Adjusted net loss was $1.02 billion, or $1.08 per share, a 33% improvement from the year-ago period. Wall Street was looking for an adjusted loss of $1.41 per share on revenue of $1 billion, so Rivian beat both expectations.
Earnings releases tell only part of the story. Here are three key things management shared on Rivian's Q2 earnings call that investors should know.
Source Fool.com
