DETROIT – Rivian Automotive beat Wall Street’s expectations for the third quarter, as the company reported its second quarterly gross profit this year thanks to a joint venture with Volkswagen and its software and services business.

Here’s what Wall Street expected, based on average analysts’ estimates compiled by LSEG:

• Loss per share: 65 cents adjusted vs. a loss of 72 cents expected
• Revenue: $1.56 billion vs. $1.5 billion expected

Regarding its gross profit, which is closely watched by investors, the company reported $24 million during the third quarter, beating FactSet consensus estimates of a $38.6 million loss.

Investors view gross profit as a key indicator of a business’s profitability before operating expenses, interest and taxes.

Rivian’s gross profit included a $130 million loss in its automotive operations — which was a $249 million improvement from the same period a year earlier — that was offset by $154 million from its VW joint venture and software and services. The company did not break down how much was attributed to capital from the joint venture.

Rivian maintained its previously lowered 2025 guidance that includes an adjusted earnings loss of between $2 billion and $2.25 billion, capital expenditures of $1.8 billion to $1.9 billion and vehicle deliveries of 41,500 units to 43,500 units.

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