00:00It's Benzinga bringing Wall Street to Main Street.
00:02Rivian Automotive beat Wall Street's third quarter earnings expectations as production
00:07of its new R2 SUV increased, according to CNBC. The electric vehicle maker reported an adjusted
00:14loss of 48 cents per share on revenue of $2.16 billion, compared with expectations for a 62
00:21cent loss and $1.99 billion in revenue. Rivian raised its 2026 vehicle delivery forecast to
00:29between 67,000 and 70,000 units and improved its adjusted pre-tax loss forecast by $100 million
00:37at the midpoint. The company delivered a record 19,248 vehicles during the quarter, with the R2
00:44becoming its best-selling model. Rivian narrowed its net loss to $913 million from $1.17 billion a year
00:53earlier. Gross profit rose to $176 million from $24 million. Shares gained roughly 7% in after-hours
01:03trading Thursday. For all things money, visit Benzinga.com.
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