Rivian Q2 Highlights: Double Beat, CEO Calls R2 a 'Game Changer'

Electric vehicle company Rivian Automotive (NASDAQ: RIVN ) reported second-quarter financial results Thursday after market close. Here are the key highlights. Rivian Q2 Earnings Rivian reported second-quarter revenue of $1.66 billion, up 27% year-over-year. The revenue total beat a Street consensus estimate of $1.51 billion, according to data Pro. Automotive revenue was $1.14 billion in the quarter, up 23% year-over-year, while software and services revenue totaled $515 million, up 37% year-over-year. The company reported a loss of 63 cents per share, beating a Street estimate of a loss of 74 cents per share. Automotive gross profit was a loss of $36 million, an improvement from a loss of $335 million year-over-year. Rivian produced 12,613 vehicles in the quarter and delivered 12,194 vehicles. The R2 began external deliveries in the second quarter. The company ended the quarter with $...