By Ben Glickman
Rivian Automotive’s revenue topped estimates in the third quarter and its loss narrowed as the company continues to ramp up production of its electric vehicles
The Irvine, Calif.-based electric-vehicle maker reported a loss of $1.37 billion, or $1.44 a share, in the third quarter, compared with a loss of $1.72 billion, or $1.88 a share, a year earlier. Analysts polled by FactSet expected a per-share loss of $1.47.
Stripping out certain one-time items, the company logged an adjusted per-share loss of $1.19, narrower than the $1.34 a share loss forecast by analysts, according to FactSet.
Revenue rose to $1.34 billion from $536 million, beating the $1.32 billion expected by analysts polled by FactSet.
Write to Ben Glickman at [email protected]
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