Investors unperturbed by Rivian miss
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Rivian Automotive Inc (NASDAQ:RIVN) reported lower-than-expected third-quarter revenue of $874 million due to supply chain issues, missing estimates by $16 million. The company also reported an adjusted loss per share of $0.99, compared to the forecasted $0.92.
November 08, 2024 | 8:30 am
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Rivian Automotive Inc reported Q3 revenue of $874 million, missing estimates by $16 million due to supply chain issues. The adjusted loss per share was $0.99, higher than the expected $0.92.
Rivian's earnings miss, driven by supply chain issues, is likely to negatively impact its stock price in the short term. The revenue shortfall and higher-than-expected loss per share indicate operational challenges.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100