Rivian significantly misses Wall Street's third-quarter revenue expectations
Portfolio Pulse from
Rivian Automotive missed Wall Street's third-quarter revenue expectations by $116 million, although its net loss narrowed to $1.1 billion from $1.37 billion year-over-year.
November 07, 2024 | 9:30 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Rivian Automotive's third-quarter revenue fell short of Wall Street expectations by $116 million, but the company managed to narrow its net loss to $1.1 billion from $1.37 billion year-over-year.
The significant miss in revenue expectations is likely to negatively impact Rivian's stock price in the short term, despite the improvement in net loss. Investors often react negatively to revenue misses, especially when the miss is substantial.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100