IRVINE, Calif. (AP) — IRVINE, Calif. (AP) — Rivian Automotive, Inc. (RIVN) on Thursday reported a loss of $833 million in its second quarter.
On a per-share basis, the Irvine, California-based company said it had a loss of 63 cents. Losses, adjusted for one-time gains and costs, were 47 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 65 cents per share.
The a manufacturer of motor vehicles and passenger cars posted revenue of $1.66 billion in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $1.59 billion.
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