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DETROIT – Rivian Automotive beat Wall Street's expectations for the third quarter, as the company reported a its second quarterly gross profit this year thanks to a joint venture with Volkswagen and its software and services business.

Here's what Wall Street expected, based on average analysts' estimates compiled by LSEG:

Loss per share: 65 cents adjusted vs. a loss of 72 cents expected

Revenue: $1.56 billion vs. $1.5 billion expected

Rivian stock was up more than 3% in extended trading Tuesday, after closing down 5.2% at $12.50 per share. The stock is off roughly 6% this year.

Regarding its gross profit, which is closely watched by investors, the company reported $24 million during the third

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