Rivian shares rise after Q2 earnings and revenue beat as R2 SUV deliveries start June 9
AI Market Summary
Rivian's Q2 results showed a meaningful fundamental improvement: EPS loss beat expectations, revenue topped consensus on 27% YoY growth, and gross profit turned positive with a large YoY swing, while the net loss narrowed. The start of external R2 deliveries and record demo drives reinforce demand momentum. A ~$5.3B liquidity position supports near-term execution, underpinning the stock's rally.
Impact level
● Medium
Affected assets
NCSKRIVN2USD/USDT-6.35%
AI Insight · NCSKRIVN2USD/USDTAI Insight
▲ Bullish
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Rivian reported 2024 second-quarter revenue of $1.65 billion, topping the $1.50 billion market expectation. Deliveries rose 14% year over year, helping consolidated revenue climb 27%. Gross profit was $179 million, an improvement of $385 million from the same quarter last year, while net loss narrowed to $837 million from $1.115 billion. The results were reflected in the stock, with shares up 3.15% intraday.
