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Rivian Q2 Earnings Highlights: Revenue Beat, EPS Miss, Volkswagen JV To 'Speed Up The Transition Away From Fossil Fuels'

Electric vehicle manufacturer Rivian Automotive (NASDAQ:RIVN) reported second-quarter financial results after the market close Tuesday. Here are the key highlights. What Happened: Rivian reported second-quarter revenue of $1.16 billion, which beat a Street consensus estimate of $1.13 billion according to data from Benzinga Pro. The company reported a loss of $1.46 per share in the second quarter, missing a Street consensus estimate of a loss of $1.21 per share. Rivian produced 9,612 vehicles and delivered 13,790 vehicles in the second quarter. The company said the second quarter saw progress made on cost efficiency, improving products and strengthening the balance sheet. "The second quarter has been a defining one for Rivian. We have demonstrated strong execution during the quarter with the plant retooling upgrade and launch of second generation R1 vehicles," ...