Rivian shares fall on missed revenue expectations, production forecast

Electric vehicle maker Rivian generated $663 million in revenue in the fourth quarter and $1.66 billion for the full year, a result that was buoyed by an uptick in production and deliveries towards the end of the year but still wasn’t enough to meet Wall Street’s expectations.
Yahoo analysts surveyed expected Rivian to generate $742.4 million in the fourth quarter and 1.73 billion for the full year.
Shares dropped 8% on the news as shareholders focused on missed expectations, a recall and an increased, but still lower-than-expected production forecast for 2023.
The company reported

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