Rivian beats on Q2 revenue, raises EV production guidance for 2023

Rivian gained positive momentum in the second-quarter and beat Wall Street expectations as the company ramped up EV sales, narrowed losses, reduced costs and shored up its supply chain.
Rivian struck a confident tone in its second-quarter earnings, which was released after markets closed Tuesday, even raising its production guidance for the year from 50,000 to 52,000 vehicles. The company said it expects its adjusted earnings guidance for the year to improve to a loss of $4.2 billion, which while still a massive number is better than it expected.
Rivian reported revenue of $1.12 billion in the

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