Rivian’s Q1 earnings come short, production outlook reaffirmed; shares slip
) saw its shares slide more than 3% in after-hours trading Tuesday after the electric vehicle maker reported worse-than-expected earnings for the fiscal Q1 2024.
“First-quarter results exceeded our outlook and set a strong foundation for the remainder of the year as we focus on continued demand generation, delivering cost and plant efficiency improvements, advancing R2 development, and driving towards profitability," RJ Scaringe, Rivian's Founder and CEO said.
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