{"id":46243,"date":"2023-08-09T07:01:12","date_gmt":"2023-08-09T11:01:12","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/rivian-lifts-annual-production-guidance-after-q2-results-top-estimates\/"},"modified":"2023-08-09T07:01:14","modified_gmt":"2023-08-09T11:01:14","slug":"rivian-lifts-annual-production-guidance-after-q2-results-top-estimates","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=46243","title":{"rendered":"Rivian lifts annual production guidance after Q2 results top estimates"},"content":{"rendered":"
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\u00a9 Reuters <\/span>
\n<\/i>\n<\/div>\n

Investing.com — Rivian lifted its annual production guidance Tuesday after reporting a narrower than expected loss in the second quarter as the electric vehicle ramped up production.<\/p>\n

Rivian Automotive <\/span><\/span> Inc (NASDAQ:) fell more than 2% in afterhours trading following the report.<\/p>\n

The EV maker \u00a0a loss of $1.27 a share on revenue of $1.12 billion, topping estimates of $1.43 and $1B, respectively.<\/p>\n

Operating expenses in the second quarter of 2022 grew to $1,004 million, as compared to $580 million in the same period last year, driven by its “investment in people, technology, and vehicle programs,” the company said.<\/p>\n

The company produced 13,992 vehicles in the second quarter, up nearly 50% from the prior-year period and delivered 12,640 EVs.<\/p>\n

Looking ahead, the company said it expects\u00a0to produce 52,000 vehicles in 2023, up from prior guidance for 50,000 deliveries.<\/p>\n

The company said the annual production boost was supported by progress made to date “on our production lines, the ramp of our in-house motor line, and the supply chain outlook.”<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters Investing.com — Rivian lifted its annual production guidance Tuesday after reporting a narrower than expected loss in the second quarter as the electric vehicle ramped up production. Rivian Automotive Inc (NASDAQ:) fell more than 2% in afterhours trading following the report. The EV maker \u00a0a loss of $1.27 a share on revenue of […]<\/p>\n","protected":false},"author":1,"featured_media":46244,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-46243","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nRivian lifts annual production guidance after Q2 results top estimates | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters Investing.com -- Rivian lifted its annual production guidance Tuesday after reporting a narrower than expected loss in the second quarter as the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=46243\" \/>\n<meta property=\"og:locale\" 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