Reuters
Rivian misses revenue estimate, but shares bounce on outlook
(Reuters) -Rivian Automotive Inc missed Wall Street estimates for third-quarter revenue, but shares rose after hours as the electric-vehicle maker reported a smaller-than-expected loss and a higher number of preorders, and reaffirmed its full-year production outlook. The company, which went public a year ago, also said its smaller R2 vehicle family will begin production in 2026, a year later than previously announced, at Rivian’s planned $5 billion Georgia plant. “We remain confident in our ability to fund operations with cash on hand through 2025,” Rivian said in an SEC filing late on Wednesday.