Rivian Automotive Q2 Adj $(1.46) Misses $(1.21) Estimate, Sales $1.16B Beat $1.13B Estimate
Portfolio Pulse from Benzinga Newsdesk
Rivian Automotive (NASDAQ:RIVN) reported Q2 losses of $(1.46) per share, missing the analyst estimate of $(1.21) by 20.66%. However, the company reported sales of $1.16 billion, beating the estimate of $1.13 billion by 2.30%.
August 06, 2024 | 8:09 pm
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Rivian Automotive reported Q2 losses of $(1.46) per share, missing the analyst estimate of $(1.21) by 20.66%. However, the company reported sales of $1.16 billion, beating the estimate of $1.13 billion by 2.30%.
The mixed earnings report, with a significant miss on EPS but a slight beat on revenue, is likely to result in neutral short-term price movement. Investors may be concerned about the larger-than-expected losses, but the revenue beat provides some positive sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100