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Global Desk Rivian Automotive (RIVN) shares went up by almost 15% on Wednesday morning. The company’s third-quarter results were better than what experts expected. Its revenue grew 78% from last year to $1.56 billion, more than the $1.5 billion forecast. Car sales rose 47% to $1.14 billion because more vehicles were sold at higher prices.Software and services revenue grew over 300% to $416 million, showing more people are using Rivian’s in-house vehicle software platform. Rivian made a profit of $24 million, reversing a loss from last year, as per the report by GuruFocus. The company’s adjusted per-share loss improved to $0.65, beating the market estimate of a $0.72 loss. Rivian vehicle deliveries and production growthRivian delivered a record 13,201 vehicles, and its Illinois factory made 10,720 vehicles. The company expects its yearly loss to stay between $2 billion and $2.25 billion and plans to spend up to $1.9 billion this year. Rivian also confirmed that it will launch its cheaper R2 SUV in the first half of 2026.Wedbush maintained an Outperform rating and a $16 price target, noting the results showed “strong top-line execution” despite rising costs for R2 development and autonomous technology investments. Rivian stock spiked 14% in early Wednesday trading after the report, as per the report by Yahoo Finance.Financial results and R2 SUV plansRivian reported a loss per share of $0.65 versus $0.71 expected, with an adjusted EBITDA loss of $602 million, slightly higher than the estimated $570.7 million. The company had a gross profit of $24 million, snapping two consecutive quarters of gross losses. Rivian said trade wars and the loss of federal EV tax credits remain challenges, but it maintained its full-year loss projection. ALSO READ: Lemonade stock skyrockets 27% despite Q3 loss - what's fueling the move?Live EventsCEO RJ Scaringe said, “In Q3, we continued to make significant progress across our strategic priorities which includes R2 and our technology roadmap. Rivian said it believes its own technology and direct sales to customers will help it build a strong brand in the U.S. and Europe. In the third quarter, Rivian made 10,720 vehicles and delivered 13,201, showing solid performance. The company now expects to deliver 41,500 to 43,500 vehicles in 2025. Its new R2 midsize SUV, planned for early 2026, is expected to help sales grow.Rivian said, “All shops have started equipment bring-up with all lines of the R2 body shop fully installed and powered on for robot commissioning. Rivian expects to begin manufacturing validation builds at year end”, as per the report by Yahoo Finance. The company added that paint shop upgrades will allow an annual capacity of 215,000 units. Analysts are positive about the R2 development and long-term Rivian growth. Wedbush analyst Dan Ives said, “We remain positive in the long-term RIVN vision that is amid a massive transformation by preparing to ramp its R2 and midsize platform supply chains with improving autonomous capabilities which is gaining traction across its customer base while navigating significant macro headwinds impacting the EV landscape.” Dan Ives maintains an Outperform rating and $16 price target for Rivian. FAQsQ1. Why did Rivian stock jump 15% recently?Rivian stock rose 15% after it reported strong Q3 results, including record deliveries and a $24 million profit, beating Wall Street expectations.Q2. When will Rivian launch the R2 SUV?Rivian plans to launch its lower-cost R2 midsize SUV in the first half of 2026, with production already in setup and testing stages.Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) Read More News onrivian stockRivian stockrivn stockrivnrivianRivian Q3 resultsRivian profitRivian financial resultsR2 SUV launch (Catch all the US News, UK News, Canada News, International Breaking News Events, and Latest News Updates on The Economic Times.) Download The Economic Times News App to get Daily International News Updates....moreless (You can now subscribe to our Economic Times WhatsApp channel)Read More News onrivian stockRivian stockrivn stockrivnrivianRivian Q3 resultsRivian profitRivian financial resultsR2 SUV launch(Catch all the US News, UK News, Canada News, International Breaking News Events, and Latest News Updates on The Economic Times.) Download The Economic Times News App to get Daily International News Updates....moreless Explore More Stories123
