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Rivian Automotive Inc was nearly unchanged at $24.80 after the maker of electric vehicles narrowed its quarterly loss and revised higher its production target. 

Rivian said second quarter revenue jumped to $1.1 billion from $364 million and net loss shrank to $1.2 billion from $1.7 billion and diluted pre share declined to $1.27 from $1.89 a year ago. 

The company forecasted 2023 production target of 52,000 from the previous estimate of 50,000 and higher than 25,000 from a year ago. 

The company delivered 12,640 vehicles in the second quarter, sharply higher than 4,467 vehicles a year ago. 


09 Aug, 2023

     

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