Rivian Automotive Inc (NASDAQ:RIVN) shares fell more than 6% on Friday following the company’s second-quarter 2026 results, as investors weighed an earnings beat against ongoing electric vehicle market pressures and profitability concerns.
The EV maker reported an adjusted loss of $0.47 per share for the quarter, narrower than Wall Street expectations for a loss of roughly $0.65 per share
Revenue came in at $1.66 billion, above consensus estimates of about $1.52 billion and up 27% from the same period last year. Rivian attributed the revenue growth to higher vehicle deliveries, regulatory credit revenue and growth in its software and services business. The company reported $179 million in consolidated gross profit, compared with a $206 million gross loss in the year-ago period.
The company produced 12,613 vehicles at its Normal, Illinois manufacturing facility and delivered 12,194 vehicles during the quarter. Rivian also began external deliveries of its R2 vehicle, which CEO RJ Scaringe described as a key driver of the company’s long-term growth strategy. “This quarter we began external deliveries of R2. I believe R2 will be a game changer for our customers and a driver of Rivian’s long-term growth and profitability,” Scaringe said in a statement.