Rivian Q2 Earnings: Revenue Beat, EPS Miss, Delivery Guidance Stays On Track, But With Heavier Losses

Electric vehicle company Rivian Automotive (NASDAQ:RIVN) reported second quarter financial results after market close Tuesday.

Here are the key highlights.

What Happened: Rivian reported second-quarter net sales of $1.303 billion, up 5.1% year-over-year. The revenue beat a Street consensus estimate of $1.29 billion according to data from Benzinga Pro.

The company reported an adjusted loss of 97 cents per share. It missed the Street consensus estimate, a loss of 76 cents per share.

Rivian previously stated it produced 5,979 vehicles and delivered 10,661 cars in the quarter. The results come with production limited.

Rivian announced that it received a $1 billion equity investment from Volkswagen Group (OTC:VWAGY) as of June 30.

The company said it is ...