IRVINE, Calif. (AP) – IRVINE, Calif. (AP) – Rivian Automotive, Inc. (RIVN) on Tuesday reported a loss of $1.35 billion in its first quarter.
The Irvine, California-based company said it had a loss of $1.45 per share. Losses, adjusted for non-recurring costs, were $1.25 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of $1.51 per share.
The a manufacturer of motor vehicles and passenger cars posted revenue of $661 million in the period, missing Street forecasts. Six analysts surveyed by Zacks expected $686.8 million.
