Rivian Reports Q4 Loss, Exceeding Wall Street Estimates
Rivian Automotive, Inc. (RIVN) announced a $744 million loss in its fourth quarter, with a loss per share of 70 cents. After adjusting for stock option expenses and non-recurring costs, losses stood at 52 cents per share.
These results exceeded expectations, as analysts at Zacks Investment Research projected a loss of 66 cents per share. Rivian also reported revenue of $1.73 billion, surpassing the consensus estimate of $1.43 billion.
For the full year, Rivian reported a loss of $4.75 billion, or $4.69 per share, on revenue of $4.97 billion.