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Share Name Share Symbol Market Type
Rivian Automotive Inc NASDAQ:RIVN NASDAQ Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.23 -0.63% 36.53 36.50 36.75 6,166 10:42:55

Rivian 4Q Loss Widens on Higher Expenses

10/03/2022 10:22pm

Dow Jones News


Rivian Automotive (NASDAQ:RIVN)
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By Kimberly Chin

 

Rivian Automotive Inc. said its loss widened in the fourth quarter as expenses rose.

The electric-truck startup said its loss attributable to common shareholders widened to $2.46 billion from $354 million in the year-earlier period. On a per-share basis, the loss was $4.83, compared with $3.50 a year ago.

Research and development expenses ballooned to $726 million from $255 million a year earlier. Selling, general and administrative expenses rose to $682 million from $98 million in the prior year.

The company recorded $54 million in revenue. In the same period a year earlier, it didn't post any revenue. Analysts were expecting $60.5 million in revenue, according to FactSet

Rivian said it delivered 909 vehicles in the quarter.

 

Write to Kimberly Chin at kimberly.chin@wsj.com

 

(END) Dow Jones Newswires

March 10, 2022 17:07 ET (22:07 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

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