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Electric vehicle company Rivian Automotive (NASDAQ:RIVN) reported third-quarter financial results after market close Thursday.
Here are the key highlights.
What Happened: Rivian announced third-quarter revenue of $874 million, which missed a Street consensus estimate of $1.00 billion, according to data from Benzinga Pro.
The company reported a loss of 99 cents per share, missing a Street consensus loss of 92 cents per share.
Operating expenses in the third quarter were $777 million, down from $963 million in the third quarter of the prior year.
Rivian had production of 13,157 vehicles in the third quarter and deliveries of 10,018 vehicles in the quarter.
"This quarter we have made progress against our key objectives and have seen meaningful progress on our Gen 2 R1 cost structure due to the new technologies ...
