Rivian Stock Falls 9% Despite Q2 Revenue Up to $1.65B
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- Rivian forecast Q2 revenue between $1.55 billion and $1.65 billion, driven primarily by higher vehicle deliveries.
- The company's year-ago Q2 revenue was $1.30 billion, a figure the new range exceeds by roughly $250 million to $350 million.
- Rivian shares dropped 9% to $18.32 in extended trading despite the higher revenue outlook.
Why it matters: Rivian shares fell 9% to $18.32 in extended trading despite Q2 revenue guidance of $1.55-1.65 billion that tops the prior year's $1.30 billion by roughly $250 million to $350 million. The opposing moves of topline growth and after-hours share price leave delivery and margin detail as the unaddressed context.
