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Rivian Automotive lowered its earnings forecast for the year after missing Wall Street’s third-quarter expectations, including a significant miss in revenue. Here is how the company performed in the quarter, compared with average estimates compiled by LSEG: Loss per share: 99 cents adjusted vs. a loss of 92 cents expected Revenue: $874 million vs. $990 million expected…
Workers assemble second-generation R1 vehicles at electric auto maker Rivian’s manufacturing facility in Normal, Illinois, U.S. June 21, 2024. Joel Angel Juarez | Reuters Shares of Rivian Automotive dropped by as much as 8.9% in intraday trading Friday after the electric vehicle startup delivered fewer vehicles in the third quarter than analysts had expected and…
Fronts of the GMC Sierra Denali,Tesla Cybertruck and Ford F-150 Lightning EVs (left to right). Michael Wayland / CNBC DETROIT – Tesla, General Motors, Rivian Automotive and Ford Motor have created a new market in the U.S. automotive industry of pricey, powerful and precarious electric pickup trucks that sell for $100,000 or more. Just five years…
